January 31, 2025 21:14 GMT
US: USD Jumps As Trump Confirms CA/MX/CN Tariffs, Eyes More On Commodities / EU
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Treasuries rise off session lows with the dollar jumping on President Trump's confirmation to reporters in the Oval Office that tariffs will be imposed on Canada, Mexico and China on Saturday
- He also says that tariffs will be imposed on steel and aluminum this month or next month, while oil and gas tariffs will be imposed by Feb 18 (per journalist accounts of the event - video not yet available).
- Reuters journalist on X.com: @steveholland1: "President Trump told the pool in the Oval just now that nothing can be done at this point by China, Mexico and Canada to head off tariffs he will impose on Saturday.
- Mutiple headlines to digest:
- "TRUMP: WE’LL BE DOING SOMETHING VERY SUBSTANTIAL ON TARIFFS WITH EUROPEAN UNION" -RTRS
- "TRUMP SAYS TARIFFS ON STEEL, ALUMINUM THIS MONTH OR NEXT MONTH" -BBG
- "TRUMP SAYS WILL PUT TARIFFS ON OIL AND GAS" - BBG / "TRUMP: OIL AND GAS TARIFFS BY FEB 18" - RTRS
- "TRUMP SAYS TARIFF COSTS ARE SOMETIMES PASSED ALONG TO CONSUMERS" -RTRS
- "TRUMP: TARIFFS MAY CAUSE SHORT TERM DISRUPTION" -RTRS
- "TRUMP: NOT CONCERNED ABOUT MARKET REACTION TO TARIFFS" -RTRS
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