09:16 AM EDT, 07/29/2025 (MT Newswires) -- UBS (UBS) has instructed its bankers to reduce the sale of complex currency derivatives after clients faced heavy financial losses related to President Trump's tariff announcements in April, the Financial Times reported Tuesday

UBS ordered advisers to stop pitching structured FX products -- known as Range Target Profit Forwards (RTPFs) -- to many clients, the FT report said.

The report noted that the Swiss bank had already made over 100 "goodwill" payments to customers who lost money due to a significant move in the US dollar following Trump's tariff announcements.

"We have completed a review of this matter and determined that a very small number of clients in a few locations in Switzerland experienced unexpected effects from the US tariff-related market volatility in April 2025," UBS told MT Newswires in a statement.

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