Late Sunday, US President Donald Trump took to his own social media application, Truth Social, and clarified that there will be no tariff exemption on semiconductors and the electronics supply chain, as these products will be subject to the existing 20% tariffs on fentanyl and not the 145% hike.
Markets remain on edge as trade tensions, erratic headlines, and shifting currency dynamics drive sharp moves across asset classes. While some signs of optimism emerge, risks to the US dollar and commodity-linked currencies persist, ING's FX analyst Francesco Pesole notes.
The US Dollar (USD) is trading mixed to slightly weaker against its major currency peers as markets chop around ahead of tomorrow’s tariff announcement from the White House.