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Tag: presidential tariff power
Dollar Steadies Amid Trade Tensions and Pending Jobs Data: Examining Executive Trade Authority
Executive Trade Authority: The U.S. dollar’s fluctuations on June 4, 2025, encapsulate an evolving tension between financial markets and the constitutional scope of presidential trade actions. As Reuters reported, the dollar edged up 0.2 percent against the yen, while remaining largely unchanged versus the euro, pound, and Swiss franc. This movement followed stronger-than-anticipated U.S. job openings data—an August JOLTS report showing a rebound after a prior manufacturing slowdown—offsetting earlier declines caused by ongoing trade frictions (). Concurrently, President Trump imposed a 50 percent tariff on imported steel and aluminium and set a deadline for global trading partners to submit new offers by Wednesday. A planned call between Trump and Chinese President Xi Jinping, amid accusations that both sides violated previous tariff-reduction accords, heightened market uncertainty ().