India, March 27 -- The U.S. dollar declined against its most major counterparts in the New York session on Thursday, following Trump's announcement of new tariffs on all auto imports.
Trade tensions intensified after Trump imposed a 25% tariff on auto imports starting next week.
Trump told reporters the reciprocal tariffs set to take effect next week will "very lenient" but threatened in a Truth Social post early this morning that he would impose far larger tariffs than currently planned "if the European Union works with Canada in order to do economic harm to the USA."
Trump threatened to impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.
On the U.S. economic front, the Labor Depar...