# Trump to hold off on tariffs, report says, easing trade war fears

> Trump held off on imposing broad tariffs on his first day in office and ordered reviews of trade deficits and currency practices. In remarks, he also raised the prospect of 25% tariffs on Canada and Mexico as soon as February 1.

- Date: 2025-01-21 · published 2025-01-21T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/12678-trump-to-hold-off-on-tariffs-report-says-easing-trade-war-fears
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The mixed signals keep trade-war risk alive for U.S. feed and grain exports to Canada and Mexico, which are major buyers. The dollar weakened on the news, supporting dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- CORN: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2025-01-24 | 5 | -1.5% | -2.8 | Trump holding off on broad tariffs on day one and ordering only reviews eased trade-war fears, reducing demand for the dollar. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-26 | [Dollar's terrible week warning of what could with Trump's on trade](https://feedsoft.ai/events/10405-dollar-s-terrible-week-warning-of-what-could-with-trump-s-on-trade.md) | -0.0% | +1.1% |
| DXY | 2019-05-31 | [Forex Market: US tariffs on Mexico, US-China trade war in focus](https://feedsoft.ai/events/59301-forex-market-us-tariffs-on-mexico-us-china-trade-war-in-focus.md) | -0.4% | -1.5% |
| DXY | 2019-12-03 | [Euro holds gains vs dollar hit by trade tariffs and weak data](https://feedsoft.ai/events/55783-euro-holds-gains-vs-dollar-hit-by-trade-tariffs-and-weak-data.md) | -0.5% | -1.7% |
| DXY | 2025-01-21 | [Wheat Futures Reach New Heights After Trump Holds Back Tariffs - Finimize](https://feedsoft.ai/events/9935-wheat-futures-reach-new-heights-after-trump-holds-back-tariffs-finimize.md) | -1.1% | -1.7% |
| DXY | 2025-04-09 | [Trading Day: Boom! Trump tariff pause sparks monster rally](https://feedsoft.ai/events/8769-trading-day-boom-trump-tariff-pause-sparks-monster-rally.md) | -2.4% | -3.8% |
| CORN | 2019-11-03 | ['In the red this year': Tariffs on top of hot and dry growing season](https://feedsoft.ai/events/55891-in-the-red-this-year-tariffs-on-top-of-hot-and-dry-growing-season.md) | +0.9% | +1.4% |
| CORN | 2018-01-26 | [Dollar's terrible week warning of what could with Trump's on trade](https://feedsoft.ai/events/10405-dollar-s-terrible-week-warning-of-what-could-with-trump-s-on-trade.md) | +0.3% | +1.2% |
| CORN | 2018-11-01 | [Trump's Tariff War Scrambles U.S. Trade Routes as Soy Piles Up - Bloomberg](https://feedsoft.ai/events/62087-trump-s-tariff-war-scrambles-u-s-trade-routes-as-soy-piles-up-bloomberg.md) | +3.6% | -4.4% |

## Sources

- axios.com: https://www.axios.com/2025/01/20/trump-tariffs-dollar-trade

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.