Ringgit weakens after Trump announces new tariffs on Mexico, Canada

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Ringgit weakens after Trump announces new tariffs on Mexico, Canada
RinggitUS DollarDonald Trump
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(Reuters) - Republican President-elect Donald Trump is considering naming an 'AI czar' in the White House to coordinate federal policy and governmental use of artificial intelligence, Axios reported on Tuesday, citing sources.

KUALA LUMPUR: The ringgit closed lower against the greenback today after United States President-elect Donald Trump vowed to impose new tariffs on imports from Mexico and Canada.

SPI Asset Management managing director Stephen Innes said the ringgit weakened after Trump announced his plan to impose new tariffs on imports from Mexico and Canada in the Truth Social platform on Nov 25. Innes said that this escalation of his"America First” policy raised concerns among Malaysian investors, triggering a flight to the US dollar as a hedge against the potential strain on regional trade dynamics.

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