The dollar slid broadly in Asian Market opening trades today and the euro firmed after President Donald Trump announced more aggressive-than-expected tariffs against U.S. trading partners, jolting the markets as investors sought safe havens such as the yen and Swiss franc. The highly anticipated tariff announcement sent shockwaves through markets, with global stocks sinking and investors scrambling to the safety of bonds as well as gold. Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country\'s biggest trading partners. The tariffs will take effect on April 9 and appear to target about 60 countries. The new levies ratchet up a trade war that Trump kicked off on his return to the White House, rattling markets as fears grow that a full-blown trade war could trigger a sharp global economic slowdown. Trump has already imposed tariffs on aluminum, steel and autos, as well as increased duties on all goods from China. The markets are in risk-off mode and pricing in weaker global economic growth. The issue for markets in the coming days will be clarifying whether there\'s scope for trading partners to re-negotiate these tariffs and whether there is the risk further trade restrictions are possible from here. The Indian rupee opened weaker with a huge gap of almost 23 paise at 85.73/74 against its previous session’s close of 85.50/51 and is expected to trade between 85.50 – 85.80 band today.
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