The U.S. dollar headed for its worst start to a year in over a decade on Tuesday, while world stocks cemented their biggest losses in six weeks after widespread protests against President Donald Trump’s stringent curbs on travel to the United States.
Investors’ hopes for a fiscal boost to the world’s largest economy under Trump have been tempered by controversial and protectionist policies that have seen him suspend travel to the United States from seven Muslim-majority countries.
U.S. President Donald Trump’s administration poses a grave risk to international trade and Europe will have to stand up to him to prevent the collapse of global economic institutions, French Finance Minister Michel Sapin said on Tuesday.
“Our American partner appears to want to take unilaterally protectionist decisions which could destabilise the whole world economy,” Sapin said in a speech to an audience of international economists gathered at the French finance ministry.