Dollar slips as Google suspends select business with Huawei

The US dollar steadied against most of the majors on Tuesday as the US-China trade war escalated to a conflict between companies from both countries.

After Trump announced an increase in tariffs on imports of Chinese goods worth $200 billion to 25% from 10%, Beijing responded by announcing an increase of tariffs on US imports by $60 billion to 25% as of June.

Trump administration also decided to ban US companies from dealing with Huawei's technology for perceived threats to national security.

The Chinese Foreign Ministry commented on US actions that banned Huawei, stating that they're threats to retaliation.

But Google today complied with Trump's decision to suspend some of its business with the Chinese company, including the suspension of the Android operating system on Huawei's mobile phones and tablets.

In terms of trading, the dollar index (against a number of major currencies) stabilized by 97.9 points at 97:34 GMT, hitting a high of 98.04 and a low of 97.8.