USD/CAD, USD/MXN Shoot Up After Trump's Tariff Comments -- Market Talk

Dow Jones

01-21

0139 GMT - USD/CAD and USD/MXN shot up after President Trump said he is aiming to place 25% tariffs on imports from Canada and Mexico on Feb. 1. Trump also hinted that there still could be tariffs coming on China and elsewhere. Trump's comments poured cold water on growing hopes for a more lenient approach to trading partners following news that Trump isn't expected to implement new tariffs on Monday. USD/CAD briefly rose to 1.4516 and was last at 1.4438, compared to 1.4301 prior to his comments. USD/MXN briefly rose to 20.80 and was last at 20.74, compared to 20.48 prior. (kosaku.narioka@wsj.com; @kosakunarioka)

(END) Dow Jones Newswires

January 20, 2025 20:40 ET (01:40 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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