US President Trump says tariff could be steeper, being very nice about it

Newsquawk Staff · 29 Jan 2026, 17:36 UTC

US President Trump says tariff could be steeper, being very nice about it.

What it means

President Trump's comments about potentially steeper tariffs suggest a more aggressive stance on trade, which could create volatility in currency and equity markets. This type of escalation typically pressures global risk sentiment and could strengthen the USD against other currencies as traders seek safety, while negatively impacting commodity prices, especially in sectors like energy and metals that are sensitive to trade tensions.

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US Market Open, 6 Nov, 10:48 UTC · what it led with

APAC stocks were pressured; KOSPI slumped 6% following hefty losses in Samsung and SK Hynix.
USD is firmer against all G10 peers awaiting the US NFP report.

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Iranian President Pezeshkian says the Supreme Leader has granted the government some authority on dialogue, ISNA reports.
EUR/USD+0.1%
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ECB President Lagarde (Q&A) says policymakers believe they are in a good position to wait for incoming information. The situation they are in could have warranted a hike.
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