The euro slipped 0.14% to $1.1768, the yen dipped 0.4% to 155.27 per dollar, while sterling slipped 0.08% to $1.3478

The yen ‌weakened ​on Tuesday after China announced export controls on Japanese companies in a further sign of souring relations. The Nikkei newspaper said U.S. authorities took the lead in conducting so-called rate checks last month to prop up Japan’s currency without a request from Tokyo.

U.S.’s latest tariff threats are clouding the outlook for global trade. That country’s Supreme Court ruled on Friday that the president’s use of a 1977 emergency law to impose tariffs exceeded ‌his authority, but hours later Trump invoked a different law and imposed a new levy on all imports.

Now we’re back in a very uncertain environment, Ray Attrill, head of currency strategy at ‌National Australia Bank, said on a NAB podcast.

It’s just the uncertainty about what the future trade landscape will look like, just at a point where most countries had signed or were on the cusp of signing trade deals, he added.

The dollar index rose 0.2% to 97.90.

The euro slipped 0.14% to $1.1768, while the yen dipped 0.4% to 155.27 per dollar. Sterling slipped 0.08% to $1.3478.

The U.S. president said on Saturday he would raise a temporary tariff from 10% to 15% ⁠on imports from all countries, the maximum level allowed under ⁠the law.

Japan’s government said trade minister Ryosei Akazawa spoke with U.S. Secretary of Commerce Howard Lutnick on Monday and asked that Tokyo’s treatment under ⁠new tariff measures should not be less favourable than last year’s agreement. The renewed trade uncertainties come as doubts creep into financial markets about the sustainability of massive investments in artificial intelligence.

The Australian dollar firmed 0.1% versus the U.S. dollar to $0.706, while New Zealand’s kiwi was little changed at $0.5957. Yuan hit the strongest level against the dollar in nearly three years.