Trump Plans Canada-Mexico Tariffs

This is a Canada news story, published by CNBC, that relates primarily to Luis Costa news.

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significant tariffs

CNBC

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Trump’s tariff threats signal the start of a wild ride in currency markets

Summary

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82% Informative

Trump said Monday he would sign an executive order on Jan. 20 imposing a 25% tariff on all goods coming from Canada and Mexico , a move that could violate the terms of a regional free trade agreement.

The U.S. dollar index, which measures the greenback against six major currencies, was little changed at midday London time on Tuesday .

The euro and pound sterling were both trading slightly higher against the dollar.

I mean, obviously realizing that one headline can make the [ Mexican ] peso move by 1.5% to 2% like it did overnight ," Luis Costa , global head of emerging markets strategy at Citi , told CNBC 's " Squawk Box Europe " on Tuesday . "To us, it is absolutely obvious that the Trump administration will use tariffs as one important lever to negotiate with [ Mexican President Claudia] Sheinbaum 's government. It is probably something that is more about negotiation rather than about imposing tariffs," he added..