FX.co ★ 07.03.2025: USD baffled by Trump’s trade tariffs. Outlook for USD, EUR/USD, Brent, RUB

The past week was chaotic, full of confusion and uncertainty. Yesterday, Donald Trump suspended the 25% tariffs on Canada and Mexico—the same ones he had imposed just two days earlier on Tuesday. At the same time, he promised to launch a global reciprocal tariff regime against all US trading partners starting from April 2. As a result, markets went into a tailspin. “This is a terrible, terrible backdrop for investors!”

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