# Trump's trade war salvo heightens market turbulence

> Market analysts discussed how Trump's trade war tariffs are affecting currency and debt markets. Deutsche Bank and Lombard Odier estimated the growth impact of possible 10% and 20% tariffs on the euro zone.

- Date: 2025-02-03 · published 2025-02-03T12:00:00.000Z
- Category: trade · region Global · magnitude low
- Page: https://feedsoft.ai/events/26267-trump-s-trade-war-salvo-heightens-market-turbulence
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Broad tariff escalation raises global growth risk and volatility in currencies and commodities, which can weigh on feed demand and trade flows.

## Read by commodity

- DXY: neutral
- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2018-12-03 | [Trump’s trade war sees US soybean exports heading south](https://feedsoft.ai/events/61762-trump-s-trade-war-sees-us-soybean-exports-heading-south.md) | -0.1% | +0.9% |
| SBM | 2018-03-23 | [Asian markets jittery over trade war fears](https://feedsoft.ai/events/66230-asian-markets-jittery-over-trade-war-fears.md) | +4.3% | +1.7% |
| SBM | 2019-08-27 | [Forex markets: US-China trade tensions in focus](https://feedsoft.ai/events/57811-forex-markets-us-china-trade-tensions-in-focus.md) | -1.7% | +0.8% |
| SBM | 2018-08-11 | [China says U.S. farmers may never regain market share lost in trade war - POLITICO](https://feedsoft.ai/events/63420-china-says-u-s-farmers-may-never-regain-market-share-lost-in-trade-war-politico.md) | +2.0% | -2.3% |
| SBM | 2018-08-01 | [The bean at the heart of America's trade war](https://feedsoft.ai/events/63573-the-bean-at-the-heart-of-america-s-trade-war.md) | -2.5% | -11.9% |
| DXY | 2025-04-12 | [Monetary policy space narrows as trade uncertainty weighs on FX market \| Vietstock](https://feedsoft.ai/events/25424-monetary-policy-space-narrows-as-trade-uncertainty-weighs-on-fx-market-vietstock.md) | -0.8% | -1.2% |
| DXY | 2019-10-11 | [Trump announces 'phase one' trade deal with China](https://feedsoft.ai/events/56427-trump-announces-phase-one-trade-deal-with-china.md) | -1.0% | -0.8% |
| DXY | 2025-01-21 | [Morning Bid: 'Stop-Go' Trump tariff trades whiplash dollar \| Reuters](https://feedsoft.ai/events/12675-morning-bid-stop-go-trump-tariff-trades-whiplash-dollar-reuters.md) | -1.1% | -1.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/trumps-trade-war-salvo-jolts-markets-2025-02-03/

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