# Dollar tumbles as US tariff plan ignites trade war fears

> The dollar fell to its lowest against the yen since November 2016 after President Trump proposed heavy tariffs on steel and aluminum imports. The move raised trade war concerns, and the yen also gained after the Bank of Japan signaled it could consider exiting ultra-easy policy.

- Date: 2018-03-02 · published 2018-03-02T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/66227-dollar-tumbles-as-us-tariff-plan-ignites-trade-war-fears
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Steel and aluminum tariffs raise the risk of retaliation against US farm exports, which can pressure soybean and corn demand, while a weaker dollar tends to support US commodity prices.

## Read by commodity

- DXY: bearish ▼
- SOY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-05-23 | [US dollar tumbles as Trump's EU tariff talk spurs investor flight](https://feedsoft.ai/events/24859-us-dollar-tumbles-as-trump-s-eu-tariff-talk-spurs-investor-flight.md) | -0.2% | -0.7% |
| DXY | 2025-04-17 | [Trade Wars and the U.S. Dollar \| PIMCO](https://feedsoft.ai/events/25333-trade-wars-and-the-u-s-dollar-pimco.md) | -0.2% | -0.5% |
| DXY | 2026-07-30 | [Australian Dollar rallies despite softer CPI as US Dollar tumbles after Fed, weaker data](https://feedsoft.ai/events/18598-australian-dollar-rallies-despite-softer-cpi-as-us-dollar-tumbles-after-fed.md) | -1.2% | -1.9% |
| DXY | 2025-03-05 | [Euro hits four-month peak; US dollar languishes on tariff-driven fears](https://feedsoft.ai/events/5799-euro-hits-four-month-peak-us-dollar-languishes-on-tariff-driven-fears.md) | -1.5% | -1.2% |
| DXY | 2026-05-17 | [Dollar retreats as traders focus on Iran, Fed policy](https://feedsoft.ai/events/19471-dollar-retreats-as-traders-focus-on-iran-fed-policy.md) | +0.0% | +0.0% |
| SOY | 2018-09-11 | [US-China trade war: Investors could soon favor yuan over dollar, former PBOC governor says](https://feedsoft.ai/events/63269-us-china-trade-war-investors-could-soon-favor-yuan-over-dollar-former-pboc.md) | -1.2% | +4.3% |
| SOY | 2025-01-31 | [Dollar advances after White House reiterates Trump tariff threats](https://feedsoft.ai/events/26698-dollar-advances-after-white-house-reiterates-trump-tariff-threats.md) | +1.6% | -3.1% |
| SOY | 2019-05-18 | [Onshore Yuan Breaks 6.9 Against U.S. Dollar as Trade War Intensifies - Caixin Global](https://feedsoft.ai/events/59281-onshore-yuan-breaks-6-9-against-u-s-dollar-as-trade-war-intensifies-caixin.md) | +1.0% | +11.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/03/01/forex-markets-focus-on-dollar-moves-after-trump-tariff-decision.html

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