Trump, Dollar and Tariff
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The Canadian dollar edged higher against its U.S. counterpart on Thursday but the move was modest as the greenback notched broad-based gains and after new U.S. trade tariffs cast doubt about prospects of a trade deal this month between Canada and the United States.
Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains.
The U.S. dollar just tallied its worst start to a calendar year since the era of free-floating exchange rates began. The second half of 2025 likely won’t be much better.
The Indian rupee weakened on Thursday on the back of dollar bids from foreign banks and a broadly stronger greenback, after U.S. President Donald Trump continued to up the ante on tariffs by announcing a 35% levy on Canadian imports starting August 1.
The U.S. Department of Justice's Antitrust Division and the U.S. Federal Trade Commission cleared three deals that were together worth $63 billion in June, illustrating how FTC Chairman Andrew Ferguson and DOJ antitrust head Gail Slater are taking a different tack from their predecessors.
A troubling shift in the dollar’s trading relationship with U.S. stocks has eased somewhat over the past few weeks.
Economists told Newsweek that the decline is due to a confluence of factors, and a broad downgrade in America's economic outlook.
Chinese nationals allegedly operated a marijuana ring using quiet homes as grow houses, withholding workers' passports until debts were paid, the DOJ says.