The dollar weakened this week in response to President Donald Trump’s announcement of sweeping tariffs, a troubling sign for the administration and consumers.
On Wednesday, Trump announced 10% tariffs on all imports and higher tariffs on certain countries based on trade deficits. The historic announcement sent reverberations through the global economy, but the U.S. dollar fell instead of rising as a result of more tariffs, a development that could indicate fears of a recession.
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