India, Jan. 31 -- The U.S. dollar climbed higher on Friday as the Trump administration confirmed the imposition of 25% levies on Mexico and Canada and a 10% tariff on China from February 1.
The dollar, which was a bit subdued earlier in the day amid uncertainty about the proposed tariffs on imports from the three countries, moved higher after confirmation from the White House that the levies would be imposed from Saturday.
The U.S. President cited the flow of fentanyl and large trade deficits as among the reasons for the decision to impose tariffs on Canada and Mexico.
He also threatened 100% tariffs on BRICS nations over dollar replacement moves.
In economic news, data from the Commerce Department showed that consumer prices in the U.S...