The euro is extending gains against the U.S. dollar after The Washington Post reported that the Trump administration is working on a methodology for new global tariffs on critical imports to affect only a few industries. Previously, it was feared that higher tariffs could cover a much broader portion of global trade.
President-elect Donald Trump's advisers are studying tariff plans that would apply to every country, but would cover only critical imports, said three people familiar with the matter, the agency reported.
If implemented, the emerging plans would limit the most sweeping elements of Trump's campaign plans, but would still likely sway global trade and have serious consequences for the US economy and consumers.
Source: xStation
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