Created
: 2025.07.31
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
US Commerce Secretary Lutnick: Made trade deals with Cambodia and Thailand
World FX news
Breaking news
US Commerce Secretary Lutnick: Made trade deals with Cambodia and Thailand
New
2025.07.31 10:39
2025.07.31 10:39
2025.07.31 10:39
US Commerce Secretary Howard Lutnick spoke in a Fox News interview on Wednesday, saying that the United States (US) has made trade agreement with Cambodia and Thailand
Market reaction
At the time of writing, the US Dollar Index (DXY) is holding lower ground near 99.78, losing 0.18% on the day.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.07.31
Related articles
Canadian Dollar heads for a sixth straight loss as Loonie falls under the Greenback wheel
2025.08.01 04:39USD/JPY surges to four-month high as BoJ maintains dovish stance
2025.08.01 04:21Forex Today: The US NFP grabs all the attention
2025.08.01 03:59Swiss Franc steadies as markets eye US tariff deadline, SNB reports major FX losses
2025.08.01 03:18EUR/CHF slides to multi-month low as Euro struggles amid trade woes
2025.08.01 02:16EUR/GBP rebounds from seven-week low as BoE rate cut speculation rises
2025.08.01 00:36
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Canadian Dollar heads for a sixth straight loss as Loonie falls under the Greenback wheel
The Canadian Dollar (CAD) sank for a sixth consecutive session on Thursday, driven lower by a second straight contraction in headline Gross Domestic Product (GDP) growth on a monthly basis.
New
2025.08.01 04:39USD/JPY surges to four-month high as BoJ maintains dovish stance
The Japanese Yen (JPY) weakens for the sixth consecutive day against the US Dollar with the USD/JPY pair surging to its highest level in over four months after the Bank of Japan (BoJ) kept its short-term interest rate steady at 0.50% for a fourth consecutive meeting, as widely expected, but the acco
New
2025.08.01 04:21Forex Today: The US NFP grabs all the attention
The US Dollar (USD) extended its advance for yet another day on Thursday, reaching new two-month peaks as investors continued to assess the latest FOMC event and higher US inflation, all ahead of the critical release of the Nonfarm Payrolls on Friday.
New
2025.08.01 03:59Swiss Franc steadies as markets eye US tariff deadline, SNB reports major FX losses
The Swiss Franc (CHF) steadies against the US Dollar (USD) on Thursday, snapping a six-day losing streak as investors rotate back into the Franc amid renewed safe-haven demand.
New
2025.08.01 03:18Dow Jones Industrial Average dribbles lower after PCE inflation accelerates again
The Dow Jones Industrial Average (DJIA) tested the low end on Thursday, chalking in a fourth straight bearish session as equities grapple with a stubborn Federal Reserve (Fed), which is increasingly unlikely to deliver rate cuts in the third, or any quarter, if the US doesn't get a firmer handle on
New
2025.08.01 03:11Gold price rebounds ahead of NFP despite firm USD, Fed hold
Gold prices recovered on Thursday after the Federal Reserve (Fed) held rates unchanged, as the August 1 trade deadline imposed by US President Donald Trump looms. The Greenback remains steady on a tranche of good economic data, though the XAU/USD trades at $3,296, gaining 0.61%.
New
2025.08.01 03:09EUR/CHF slides to multi-month low as Euro struggles amid trade woes
The Euro (EUR) weakens for the fourth straight day against the Swiss Franc (CHF) on Thursday, pressured by concerns over the recently announced US-EU trade agreement, which investors perceive as one-sided and unfavorable for the European Union (EU).
New
2025.08.01 02:16EUR/GBP rebounds from seven-week low as BoE rate cut speculation rises
The EUR/GBP cross edges higher on Thursday, snapping a three-day losing streak and rebounding from the seven-week low hit on Wednesday.
New
2025.08.01 00:36US President Trump: Will talk to Mexico over next 90 days to sign a trade deal
After speaking to Mexican President Claudia Sheinbaum on the phone on Thursday, United States (US) President Donald Trump said that Mexico will continue to pay a 25% fentanyl tariff, 25% tariff on cars, and 50% tariff on steel, aluminum, and copper.
New
2025.08.01 00:16GBP/USD slips as Fed pushes back on September cut, US data support Dollar
The GBP/USD posted moderate losses during the North American session on Thursday after the Federal Reserve (Fed) held rates on Wednesday and failed to provide forward guidance for the September meeting. This, along with solid US jobs data and an uptick in inflation, boosted the Dollar.
New
2025.07.31 23:52Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
