The dollar continued to decline during the beginning of trading this week, as the dollar fell to 99.40 levels on Monday, after the dollar index reached its lowest level in 3 years on Friday, against the backdrop of growing concerns about the US economic repercussions of President Trump's plans for tariffs.
This decline came after the Trump administration announced exemptions from tariffs on smartphones, computers and other technology products under the new reciprocal tariff system, however, commerce secretary Howard Lutnick stated that these imports may be charged separately over the next two months.Trump also clarified that the products are still subject to the current 20% duties.
The inconsistency of US economic policy, coupled with the decline in credibility caused by Trump's constant retreat, raises a lot of concern and doubt, and therefore a significant erosion of confidence in the United States.
