Frankfurt (dpa-AfX)-The euro reacted to the huge customs package of the US government on Thursday. In the morning, the community currency rose to $ 1.0990 and thus to the highest level in six months. Before the press conference of US President Donald Trump with the announcement of far-reaching tariffs on Wednesday evening, the euro cost only $ 1.0850. The euro had already benefited massively from Trump’s economic policy in the past few weeks.
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US President Donald Trump announces the fight for all trading partners with a huge customs package. His government introduces new flat -rate tariffs of ten percent to imports from all countries. For many states, significantly higher punitive levies should apply depending on the trade deficit. New tariffs of 20 percent are planned for imports from Germany and other countries of the European Union to the United States.
“It remains noteworthy that the US dollar does not benefit as a safe port,” said decabank experts. Rather, the courses from the euro and the Japanese yen were able to upgrade. “Apparently, investors see main risks for the USA.” However, price fluctuations can be expected in the further course of trade. The markets are likely to hope for negotiating solutions at short notice, keep the effects on the global economy within limits