Euro, Canadian dollar, Mexican peso fall on tariffs

The Canadian dollar, Mexican peso and euro fell on Monday on US tariffs, amid fears of a trade war that could hit the global economy.

The Canadian dollar fell 1.4 percent against the US dollar in early Asian trading, its lowest level since 2003, while the Mexican peso fell more than 2 percent and the euro fell 1 percent against the US dollar.

This comes after US President Donald Trump imposed tariffs on major US trading partners Canada, Mexico and China, with a 25 percent tariff on imports from Canada and Mexico, and a 10 percent tariff on goods from China, in addition to existing tariffs. He also announced earlier today that European products will soon be subject to additional tariffs as well.

It is noteworthy that the three major trading partners of the United States – Canada, Mexico and China – together account for more than 40 percent of its imports.