The post Australian Dollar struggles as Trump administration plans to blacklist Chinese chipmakers appeared on BitcoinEthereumNews.com.

The Australian Dollar faces headwinds as the Trump administration moves to add several Chinese chipmakers to its export blacklist. The AUD remains under pressure despite a strong Australian labor market report showing solid job gains in April. The US Dollar continues to trade within a narrow range, as recent US economic data has sent mixed signals to the market. The Australian Dollar (AUD) extends its decline against the US Dollar (USD) for a third consecutive session on Friday. The AUD remains under pressure, possibly due to reports that the Trump administration is planning to add several Chinese chipmakers to its export blacklist, known as the “entity list.” Given the close trade relationship between Australia and China, any disruption in the Chinese market can significantly impact the Aussie Dollar. According to the Financial Times, Trump administration officials expressed concern late Thursday that imposing export controls on key Chinese firms at this stage could undermine the recently reached trade agreement between China and the US during talks in Geneva over the weekend. The AUD struggles despite a strong Australian labor market report, which reported robust job growth in April. The AUD/USD pair struggled even as the Greenback weakened following economic data that fueled speculation the Federal Reserve (Fed) could resume interest rate cuts in the coming months. The risk-sensitive AUD/USD pair also failed to benefit from easing global trade tensions. A senior adviser to Iran’s supreme leader, Ali Shamkhani, stated on Wednesday that Iran is ready to sign a nuclear deal with US President Donald Trump. Additionally, the US and China reached a preliminary agreement, under which the US will reduce tariffs on Chinese goods from 145% to 30%, while China will lower its tariffs on US imports from 125% to 10%. Australian Dollar struggles despite a weaker US Dollar amid improved…

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Filed under: News - @ May 16, 2025 2:24 am