USD/CHF remains under pressure for the second consecutive day, hovering around 0.8960 during Tuesday's Asian session.
The pair may decline further as the safe-haven Swiss Franc (CHF) strengthens amid escalating risk-off sentiment driven by growing concerns over a global tariff war.
On Monday, the White House confirmed that President Trump signed an order raising tariffs on Chinese imports to 20%, while similar measures for Mexico and Canada are still pending. Trump also reiterated that reciprocal tariffs will take effect on April 2 for countries imposing duties on US goods.
In response, Canada's Prime Minister's Office stated that Canada will implement 25% retaliatory tariffs on US imports starting Tuesday if US tariffs proceed.
Meanwhile, China's Commerce Ministry announced early Tuesday that it would take "necessary countermeasures" to protect its legitimate rights and interests.
Source: FXStreet
