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U.S Tariff Plans

Nov 26, 2024

USD/CAD has reached a 4 year high

Former President Trump announced last night plans for significant tariff increases as part of his proposed economic strategy. This approach represents a continuation and intensification of his "America First" trade policies from his first term, which included renegotiating trade agreements and imposing targeted tariffs​. He states, “On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on all products coming into the United States, and its ridiculous Open Borders…” 

 

Trump’s team is also exploring ways to involve Congress in implementing these tariffs, potentially through legislation. This would mark a significant shift in trade policy-making, historically managed by the executive branch. These tariffs are presented as a strategy to address trade deficits, generate revenue, and strengthen domestic industries​.

 

USD/CAD has reached a 4 year high as of 2:00am EST. The moving averages have shown a significant upward trend, and the exchange rate has surpassed multiple resistance levels.


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