CAD is clearly the worst performing one today threatened by Trump. He tweeted:
- “NAFTA, which is under renegotiation right now, has been a bad deal for U.S.A. Massive relocation of companies & jobs,”
- “Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.”
A recap on top steel importers to the US in 2017
- Canada (16%)
- Brazil (13%)
- South Korea (10%)
- Mexico (9%)
- Russia (9%)
- Turkey (7%)
- Japan (5%)
- Taiwan (4%)
- Germany (3%)
- India (2%)
USD/CAD now heading to 1.3065 fibonacci level.
