India, June 2 -- The U.S. dollar weakened against other major currencies in the European session on Monday, as U.S. President Donald Trump's decision to double tariffs on steel and aluminum imports along with rising Sino-U.S. tensions threatened to rekindle global trade tensions.
U.S. President Donald Trump has announced that import tariffs on steel and aluminum will double to 50 percent starting June 4, in what he called a move to protect domestic industry.
China has accused the U.S. of violating their recent trade deal and vowed to take measures to defend its interests, dimming the prospect of an immediate leadership call that Trump wants to have to further bilateral talks.
In another development, U.S. Commerce Secretary Howard Lutnick...