The U.S. dollar rose on Friday, fuelled by upheavals on the global trade landscape, as U.S. President Donald Trump announced more import tariffs, ranging from 35% on neighbouring Canada to plans for blanket levies of 15% or 20% on most trading partners.

Something different just happened to the U.S. dollar, which recently completed its worst first half of any calendar year since at least the 1970s: The dollar strengthened this week, despite President Donald Trump’s ongoing tariff talk.

After President Donald Trump announced a 90-day pause in imposing his “Liberation Day” tariffs, trade adviser Peter Navarro touted the possibility of “90 deals in 90 days.” In truth, it hasn’t been that easy,