Shortly after the earnings reports, President Trump announced a 35% tariff on Canadian goods, effective August 1. While the headline figure is eye-catching, the impact may be more modest: goods traded under the USMCA agreement remain exempt, as do energy products like oil. Still, the move is controversial given the U.S. already runs a manufacturing trade surplus with Canada, raising questions about the strategic rationale behind the hike.
From Japan, Finance Minister Shunichi Kato ramped up verbal intervention, criticising yen weakness as "driven by speculators." Kato, seen as more aggressive than his predecessor, repeated threats of possible intervention. However, his credibility is wearing thin—USD/JPY barely reacted, holding just above 150.70 after surging through 150 in the wake of yesterday’s Bank of Japan policy decision. Markets are increasingly treating Kato’s warnings as empty—the boy who cried wolf.
In FX, major currencies traded in narrow ranges as traders waited ahead of the U.S. nonfarm payrolls report, due at 8:30 a.m. ET.
This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about investinglive asia pacific fx news wrap trump tariffs agaian 35 on canada 39 on swiss was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( InvestingLive Asia-Pacific FX news wrap: Trump tariffs agaian: 35% on Canada, 39% on Swiss )
Also on site :
- California Dreamin’: NBC Kicks Off 2028 L.A. Olympics Marketing Campaign With Kate Hudson (Exclusive)
- Zelensky tells BBC Putin has started WW3 and must be stopped
- Not all degrees are a waste of time: MBA graduates from Harvard, MIT, and Wharton are making over $245,000 just three years after graduating