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The dollar suffered its worst two-day drop since 2023 after President Donald Trump initiated tariffs on Mexico and Canada, the opposite of what was “supposed” to happen. Worse still, its “safe-haven” status might also be fading.
The U.S. has enjoyed a luxury no other country has. Everyone uses the dollar to conduct trade internationally, which has made the greenback in demand through thick and thin, even as the federal government has run up a massive amount of debt. Trump’s tariffs and his apparent breach with Europe on military matters could threaten that status.
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