U.S. dollar slides amid tariffs debate

NEW YORK, March 6 (Xinhua) -- The U.S. dollar decreased against most other major currencies on Tuesday amid ongoing tariffs debate in the country.

U.S. President Donald Trump's chief economic adviser Gary Cohn could leave the administration if the tariffs proposed by the president were implemented, according to media reports.

Trump announced a plan to impose steep tariffs on steel and aluminum imports last week. Many worried that the proposed tariffs would raise prospects of a trade war and hurt the U.S. economy.

Market concerns eased a little on Monday after Trump tweeted that the tariffs plan could come off "if new & fair NAFTA agreement is signed."

Analysts said the latest news about Cohn, however, rekindled uncertainties over the tariff debate inside the administration and is causing investors to take a wait-and-see approach.

On the economic front, U.S. new orders for manufactured goods in January, down following five consecutive monthly increases, decreased 6.9 billion U.S. dollars or 1.4 percent to 491.7 billion dollars, the Commerce Department reported Tuesday.

The dollar index, which measures the greenback against six major peers, was down 0.48 percent at 89.624 in late trading.

In late New York trading, the euro increased to 1.2405 dollars from 1.2328 dollars in the previous session, and the British pound rose to 1.3889 dollars from 1.3833 U.S. dollars in the previous session. The Australian dollar gained to 0.7819 dollar from 0.7762 dollar.

The U.S. dollar bought 106.22 Japanese yen, the same as 106.22 Japanese yen of the previous session. The U.S. dollar climbed to 0.9406 Swiss franc from 0.9404 Swiss franc, and it was down to 1.2901 Canadian dollars from 1.2993 Canadian dollars. Enditem