Euro, Canadian Dollar, Mexican Peso Decline Due To US Tariffs
(MENAFN- The Peninsula)
QNA
Doha: The euro, Canadian dollar, and Mexican peso declined on Monday due to US tariffs, amid fears of a trade war that could hit the global economy.
The Canadian dollar fell 1.4% against the US dollar in early Asian trading, its lowest level since 2003, the Mexican peso fell more than 2%, and the euro fell 1% against the US dollar.
This comes after US President trump imposed tariffs on major US trading partners, Canada, Mexico and China, of 25% on imports from Canada and Mexico, and 10% on goods from China, in addition to existing tariffs.
He also announced earlier that European products will soon be subject to additional tariffs as well.
The three main trading partners of the United States, Canada, Mexico and China, together account for more than 40% of its imports.
MENAFN03022025000063011010ID1109160857
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.