Anticipation surrounding the White House’s impending tariff announcement, scheduled for this afternoon, is impacting market sentiment, according to Scotiabank’s Chief FX Strategist Shaun Osborne. The USD is experiencing downward pressure as markets await the details of the proposed tariffs. The White House has indicated that the tariffs will be implemented “immediately.” While the specifics remain uncertain, a broadly applied 20% tariff is considered a distinct possibility. Furthermore, the implementation of 25% auto tariffs is scheduled for tomorrow. Analysts suggest that substantial tariffs could negatively affect the U.S. economy, potentially leading to slower growth, increased prices, and pressure on businesses to enhance operational efficiency.
