UBS (UBS) has made approximately 100 “goodwill payments” to Swiss customers following complaints of losses on foreign exchange derivatives following Donald Trump’s “liberation day” tariffs, Mercedes Ruehl of The Financial Times reports. The company organized an internal task force to analyze the complaints after some clients suffered heavy losses when the US dollar fell following Trump’s announcement of blanket tariffs on April 2. The internal review found some clients had outsized exposure with their assets and took action to remedy the positions, a person familiar with the bank’s processes said.
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