He confirmed on Monday that his first economic measures after his inauguration in January will be to increase customs duties on products coming from China, Canada and Mexico, decisions that he justifies by the crises linked to opiates and immigration. He would like to impose customs duties of 25% on all products from Mexico and Canada, he wrote in a post on his Truth Social network.
In a separate post, he announced an increase in customs taxes of 10%, which is in addition to those already existing and to those additional that he could still decide on. “all the many products arriving from China to the United States”.
Also, let us add that the week is particularly rich in American indicators, the markets awaiting several indicators on Tuesday including consumer confidence in November, but especially the publication on Wednesday of the minutes of the monetary policy meeting of the American Federal Reserve (Fed) and PCE inflation in October.
The Return of the Dollar King
The dollar recovered after Donald Trump’s statements, with the Canadian dollar reaching its lowest level in more than four years.
Around 12:40 GMT, the Canadian dollar lost 0.75% against the greenback to 1.4093 Canadian dollars per dollar, shortly after hitting its lowest level since April 2020 against the greenback. The Mexican peso is trading close to its lowest level since 2022. Bitcoin fell 1.78% to $92,041.51 around 12:40 GMT.
