AUD/USD was hit hard alongside stocks as Trump’s new suggested tariffs rocked markets quite hard. After the US had already detailed tariffs on $50B worth of goods on China and the latter announced it would retaliate, the Administration is considering additional duties on no less than $200 billion worth. The news rattled markets and triggered a sharp risk-off atmosphere, sending the Aussie to the lowest levels in over a year. Given China is one of the largest trade partner of Australia, and a major importer of commodities from Australia – the trade war weighed on AUD/USD.