AUD/USD faces some of the pressure pressure to nearly 0.6250 amid the threat of the trade war
- AUD/USD weakens about 0.6245 in the early Asian session on Monday.
- Trump announced a 25 % tariff on steel and aluminum imports.
- Non -agricultural salaries in the United States increased by 143,000 in January, compared to 170,000 expected.
The AUD/USD pair attracts some sellers to approximately 0.6245 during the early Asian session on Monday. The US dollar (USD) goes beyond the high fear of the threat of trade war.
Trump said on Friday that he is planning to announce a mutual tariff for many countries by Monday or Tuesday, without identifying countries. In addition, Trump said on Sunday that he is planning to impose a 25 % tariff on all steel and aluminum imports in the United States on Monday, and Australia will not be exempt. New customs duties may reach Australian exports and exercise some pressure on the Australian dollar (AUD), although it has not yet been clear when new taxes will be imposed.
The US Federal Reserve (Fed) is now expected to maintain interest rates this year after the January job data showed that job growth in the United States slowed in January, but the unemployment rate decreased. This, in turn, supports Greenback and works as a contemporary AUD/USD.
The data issued by the American Labor Statistics Office (BLS) showed on Friday that NFP statements in the United States rose by 143,000 in January, compared to an increase of 307,000 (revised from 256,000) in December. This number came less than the market expectation of 170,000. Meanwhile, the unemployment rate decreased to a decrease to 4 % in January from 4.1 % in December. Finally, the annual wage inflation increased, as measured by changing the average clock profits, by 4.1 % year on year in January, exceeding the expected market of 3.8 %.
Customs fees are common questions
Customs duties are useful customs duties on some imports of goods or a category of products. Customs duties are designed to help local producers and manufacturers to be more competitive in the market by providing the price feature on similar goods that can be imported. Definitions are widely used as fever tools, along with commercial barriers and import shares.
Although customs tariffs and taxes generate government revenues to finance public goods and services, they have many differences. Customs duties are pre -paid in the entry port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while customs duties are paid by importers.
There is a school of thought between economists regarding the use of definitions. While some argue that definitions are necessary to protect local industries and address commercial imbalances, others see them as a harmful tool that can push prices up in the long term and lead to a harmful trade war by encouraging customs tariffs.
During the period before the presidential elections in November 2024, Donald Trump explained that he intends to use the customs tariff to support the American economy and American producers. In 2024, Mexico, China and Canada accounted for 42 % of the total imports of the United States. During this period, Mexico emerged as the best source with $ 466.6 billion, according to the American Statistical Office. Thus, Trump wants to focus on these three countries when imposing definitions. It is also planned to use the revenues created by definitions to reduce personal income taxes.
