Published by Global Banking & Finance Review®
Posted on April 2, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleThe dollar rose against the yen as Trump announced new tariffs, escalating trade tensions. The euro also gained against the dollar.
(Reuters) - The dollar weakened against the euro and turned higher against the yen on Wednesday as U.S. President Donald Trump began a long awaited announcement of sweeping new tariffs that look certain to escalate a trade war with global partners, increase prices and upend a decades-old trade order.
In late trade after Trump reiterated the United States would impose 25% tariffs on foreign-made autos, the euro extended a rise to $1.0895, up 0.92%, while the dollar turned 0.38% higher against the yen to 150.20 yen. (This story has been corrected to fix the headline and text to say that the dollar extended a gain against the yen, not turned higher)
(Reporting by Alden Bentley)
The article discusses the dollar's movement against the yen following Trump's announcement of new tariffs, impacting global trade.
The euro extended a rise against the dollar, reaching $1.0895, up 0.92%.
Trump announced 25% tariffs on foreign-made autos, escalating trade tensions.
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