President Trump's chief economic adviser Larry Kudlow says that trade negotiations with the European Union are set to begin immediately following a meeting between Mr. Trump and European Commission President Jean-Claude Juncker. The two agreed to work toward zero tariffs and hold off on additional tariffs at the meeting at the White House on Thursday.
The U.S. dollar extended its recent rout to hit three-year lows on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed a weakening in the dollar. Fears of protectionist trade policies by the United States had already pushed the greenback to a three-year low, and Mnuchin’s remark at the annual Davos summit of business and political leaders pushed it down further.