AUD/USD EDGES LOWER AS TRUMP EXPANDS STEEL AND ALIMINUM TARIFFS
The Australian Dollar (AUD) fell against the US Dollar (USD) on Tuesday.
This happened because US President Donald Trump increased tariffs (extra taxes) on steel and aluminum by 25%.
The new tariffs apply to all imports, including those from US allies like Australia.
This decision removed previous trade agreements that protected some countries from these tariffs.
As a result, the AUD/USD exchange rate dropped.
