Gold scaled a record peak on Thursday, as investors sought the safe-haven asset in response to escalating global trade tensions and tumbling equity markets, following President Trump's announcement of new auto tariffs.
Spot gold climbed 1.2% to $3,057.12 an ounce as of 11:17 a.m. ET (1517 GMT) after hitting an all-time high of $3059.30. Bullion has hit 17 record highs this year.
https://archive.is/2bffh
Global trade tensions
Re: global trade tensions
Israel announced on Tuesday that it is lifting all tariffs being imposed on U.S. products at the direction of Israeli Prime Minister Benjamin Netanyahu and other Israeli leaders.
Netanyahu said the move aims to cultivate more competition in the market, make the economy more diverse and reduce the cost of living for the people of Israel.
"In addition to the economic benefits for the economy and citizens of Israel, this move will allow us to further strengthen the alliance and ties between Israel and the United States," Netanyahu said in a statement. "We will continue to work to remove barriers and tariffs and to reinforce our special relationship with the United States."
https://www.foxbusiness.com/economy/isr ... s-products
Netanyahu said the move aims to cultivate more competition in the market, make the economy more diverse and reduce the cost of living for the people of Israel.
"In addition to the economic benefits for the economy and citizens of Israel, this move will allow us to further strengthen the alliance and ties between Israel and the United States," Netanyahu said in a statement. "We will continue to work to remove barriers and tariffs and to reinforce our special relationship with the United States."
https://www.foxbusiness.com/economy/isr ... s-products
Re: Global trade tensions
In his Rose Garden address, President Trump displayed a "Reciprocal Tariffs" chart outlining the fees the U.S. plans to impose on specific nations.
Re: Global trade tensions
China said Thursday it would take all “necessary measures” to protect its legitimate interests after it was hit particularly hard by President Donald Trump’s sweeping tariffs on U.S. trading partners around the world.
Starting April 9, imports from the world’s second-biggest economy will be subject to an additional U.S. tariff of 34%, Trump said Wednesday at the White House, as he unveiled a long list of what he called reciprocal tariffs. That is on top of 20% in tariffs that he has imposed on China since taking office in January, bringing the total to 54% — the highest U.S. tariff on any country.
The president said the new tariffs — which he described as the biggest reorganization of the global economy since World War II — are aimed at reviving domestic manufacturing and rebalancing trade relations with a wide range of countries.
https://www.nbcnews.com/news/world/chin ... rcna199433
Starting April 9, imports from the world’s second-biggest economy will be subject to an additional U.S. tariff of 34%, Trump said Wednesday at the White House, as he unveiled a long list of what he called reciprocal tariffs. That is on top of 20% in tariffs that he has imposed on China since taking office in January, bringing the total to 54% — the highest U.S. tariff on any country.
The president said the new tariffs — which he described as the biggest reorganization of the global economy since World War II — are aimed at reviving domestic manufacturing and rebalancing trade relations with a wide range of countries.
https://www.nbcnews.com/news/world/chin ... rcna199433
Re: Global trade tensions
President Javier Milei on Thursday announced that Argentina will readjust its internal regulations to meet the requirements of President Donald Trump’s tariff proposals.
Milei, a career economist and the world’s first and only libertarian president at press time, made the announcement during a brief speech at the “American Patriots Gala,” an event organized by the “We Fund the Blue” charity organization at President Trump’s Mar-a-Lago estate in Florida.
“In this framework, and as a result of the meetings that Foreign Minister [Gerardo] Werthein had with the U.S. Department of State and the Secretary of Commerce, Argentina will move forward to readjust the regulations so that we comply with the requirements of the reciprocal tariffs proposal, prepared by President Donald Trump,” Milei said.
https://www.breitbart.com/latin-america ... p-tariffs/
Milei, a career economist and the world’s first and only libertarian president at press time, made the announcement during a brief speech at the “American Patriots Gala,” an event organized by the “We Fund the Blue” charity organization at President Trump’s Mar-a-Lago estate in Florida.
“In this framework, and as a result of the meetings that Foreign Minister [Gerardo] Werthein had with the U.S. Department of State and the Secretary of Commerce, Argentina will move forward to readjust the regulations so that we comply with the requirements of the reciprocal tariffs proposal, prepared by President Donald Trump,” Milei said.
https://www.breitbart.com/latin-america ... p-tariffs/
Re: Global trade tensions
Scott Bessent explains the administration’s new tariffs,
Re: Global trade tensions
Show this to your liberal friends.
Democrats Chuck Schumer, Barack Obama, Nancy Pelosi, and Bernie Sanders all praising tariffs.
Democrats Chuck Schumer, Barack Obama, Nancy Pelosi, and Bernie Sanders all praising tariffs.
Re: Global trade tensions
Excellent thread on realDonaldTrump tariffs and economic policies
Re: Global trade tensions
EU “is ready to negotiate with the US.
The European Union will try this week to present a united front against President Donald Trump's tariffs, with the European Commission planning to present to members Monday a list of U.S. products on which to impose extra duties.
The plan by the commission, which coordinates EU trade policy, is in specific response to Trump's earlier steel and aluminum tariffs rather than the broader, more-recently announced reciprocal levies, according to Reuters. But the consensus among the countries appears challenging, considering the leaders each have their own domestic considerations.
Among the EU leaders who appear most eager to retaliate are French President Emmanuel Macron, who is calling Trump's tariffs “brutal and unfounded.”
Macron wants, in response, to suspend billions in French investments in the U.S. until the tariffs are removed. He has called on other European Union member states to do the same.
Ursula von der Leyen, president of the European Commission, said European countries were “prepared to respond” to the new policies, but afterward said “There seems to be no order in the disorder."
In Germany and Italy, the European Union’s largest and third-largest economies, respectively, the situations are more complicated.
https://justthenews.com/world/europe/eu ... ts-tariffs
The European Union will try this week to present a united front against President Donald Trump's tariffs, with the European Commission planning to present to members Monday a list of U.S. products on which to impose extra duties.
The plan by the commission, which coordinates EU trade policy, is in specific response to Trump's earlier steel and aluminum tariffs rather than the broader, more-recently announced reciprocal levies, according to Reuters. But the consensus among the countries appears challenging, considering the leaders each have their own domestic considerations.
Among the EU leaders who appear most eager to retaliate are French President Emmanuel Macron, who is calling Trump's tariffs “brutal and unfounded.”
Macron wants, in response, to suspend billions in French investments in the U.S. until the tariffs are removed. He has called on other European Union member states to do the same.
Ursula von der Leyen, president of the European Commission, said European countries were “prepared to respond” to the new policies, but afterward said “There seems to be no order in the disorder."
In Germany and Italy, the European Union’s largest and third-largest economies, respectively, the situations are more complicated.
https://justthenews.com/world/europe/eu ... ts-tariffs
Re: Global trade tensions
Stock markets today (Monday April 7, 2025)
Hong Kong: -13.2%
Taiwan: -9.7%
Japan: -8.3%
Singapore: -7.4%
China: -7.3%
Italy: -6.9%
Sweden: -6.2%
Netherlands: -6.1%
Australia: -6.1%
France: -6%
Spain: -5.7%
Germany: -5.6%
Switzerland: -5.5%
UK: -4.6%
Philippines: -4.3%
Malaysia: -4%
India: -3.8%
Russia: -3.1%
Turkey: -2.5%
Saudi: +0.5%
Hong Kong: -13.2%
Taiwan: -9.7%
Japan: -8.3%
Singapore: -7.4%
China: -7.3%
Italy: -6.9%
Sweden: -6.2%
Netherlands: -6.1%
Australia: -6.1%
France: -6%
Spain: -5.7%
Germany: -5.6%
Switzerland: -5.5%
UK: -4.6%
Philippines: -4.3%
Malaysia: -4%
India: -3.8%
Russia: -3.1%
Turkey: -2.5%
Saudi: +0.5%Re: Global trade tensions
Zimbabwe will suspend all tariffs on American imports in response to newly imposed U.S. trade measures, becoming the first country to publicly take such a step.
Re: Global trade tensions
Taiwanese President William Lai Ching-te on Sunday proposed zero tariffs, lower trade barriers, and more investment in the United States instead of retaliating against President Donald Trump’s tariff increases.
President Trump’s tariff announcement on Wednesday included 32 percent on all Taiwanese exports except semiconductors, which are Taiwan’s most celebrated and economically significant product.
Trump had threatened in March to include Taiwanese semiconductors on his tariff list, because he said Taiwan “stole” the industry from America with unfair trade practices.
https://www.breitbart.com/asia/2025/04/ ... tment-u-s/
President Trump’s tariff announcement on Wednesday included 32 percent on all Taiwanese exports except semiconductors, which are Taiwan’s most celebrated and economically significant product.
Trump had threatened in March to include Taiwanese semiconductors on his tariff list, because he said Taiwan “stole” the industry from America with unfair trade practices.
https://www.breitbart.com/asia/2025/04/ ... tment-u-s/
Re: Global trade tensions
China’s Commerce Ministry said it “resolutely opposes” U.S. President Donald Trump’s threat of escalating tariffs, and vowed to take countermeasures to safeguard its own rights and interests.
The comments came after Trump said he would impose an additional 50% duty on U.S. imports from China Wednesday, if Beijing does not withdraw the 34% tariff it imposed on American products last week.
“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake,” the statement said, according to a CNBC translation. “China will never accept it. If the U.S. insists on its own way, China will fight to the end.”
https://www.cnbc.com/2025/04/08/china-r ... ation.html
The comments came after Trump said he would impose an additional 50% duty on U.S. imports from China Wednesday, if Beijing does not withdraw the 34% tariff it imposed on American products last week.
“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake,” the statement said, according to a CNBC translation. “China will never accept it. If the U.S. insists on its own way, China will fight to the end.”
https://www.cnbc.com/2025/04/08/china-r ... ation.html
Re: Global trade tensions
U.S. will implement a 104% tariff on Chinese imports starting Wednesday as the trade war escalates.
https://www.disclose.tv/id/pf9j7f4evr/
https://www.disclose.tv/id/pf9j7f4evr/
Re: Global trade tensions
EU fires back and enters trade war with the United States: Europe approves retaliatory tariffs between 10% and 25% on U.S. goods.
https://www.disclose.tv/id/96uioalh7s/
https://www.disclose.tv/id/96uioalh7s/
Re: Global trade tensions
President Trump announces 90-day pause on tariffs, except for China, which is being raised to 125%
Re: Global trade tensions
China is preparing for a 'prolonged economic warfare' with Donald Trump after the president added additional tariffs on Beijing, while announcing a pause for other trading partners.
The Communist nation has spent years fostering a strategy that transitioned from building housing to $1.9trillion constructing factories to make cheap goods for export, seeing them rise 13 percent and 17 percent in 2023 and 2024.
Now, Chinese companies who had previously responded to Trump's tariffs by offering discounts to longtime U.S. clients are willing to forego the American market entirely as they attempt to find new buyers.
Joe Biden's trade representative Katherine Tai sounded the alarm of factories closing in America and worldwide to The New York Times: 'The tsunami is coming for everyone.'
China has started taking action against American companies, adding half a dozen to a trading blacklist, including Shield AI and Sierra Nevada.
Another 12 American companies - including American Photonics and BRINC Drones - now face export controls, according to The Wall Street Journal.
https://www.dailymail.co.uk/yourmoney/a ... rfare.html
The Communist nation has spent years fostering a strategy that transitioned from building housing to $1.9trillion constructing factories to make cheap goods for export, seeing them rise 13 percent and 17 percent in 2023 and 2024.
Now, Chinese companies who had previously responded to Trump's tariffs by offering discounts to longtime U.S. clients are willing to forego the American market entirely as they attempt to find new buyers.
Joe Biden's trade representative Katherine Tai sounded the alarm of factories closing in America and worldwide to The New York Times: 'The tsunami is coming for everyone.'
China has started taking action against American companies, adding half a dozen to a trading blacklist, including Shield AI and Sierra Nevada.
Another 12 American companies - including American Photonics and BRINC Drones - now face export controls, according to The Wall Street Journal.
https://www.dailymail.co.uk/yourmoney/a ... rfare.html
Re: Global trade tensions
Canadian Prime Minister Mark Carney said Wednesday that negotiations with President Trump on the U.S.-Canada economic and security relationships will start after the Canadian federal election.
“As President Trump and I have agreed, the U.S. President and the Canadian Prime Minister will commence negotiations on a new economic and security relationship immediately following the Federal election,” he added.
“As part of today’s announcement, the President has signaled that the U.S. will engage in bilateral negotiations with a number of other countries. This will likely result in a fundamental restructuring of the global trading system,” Carney said in his X post on Wednesday.
https://thehill.com/policy/internationa ... -election/
“As President Trump and I have agreed, the U.S. President and the Canadian Prime Minister will commence negotiations on a new economic and security relationship immediately following the Federal election,” he added.
“As part of today’s announcement, the President has signaled that the U.S. will engage in bilateral negotiations with a number of other countries. This will likely result in a fundamental restructuring of the global trading system,” Carney said in his X post on Wednesday.
https://thehill.com/policy/internationa ... -election/
Re: Global trade tensions
Did Trump rug pull the congressional inside traders at the same time he spit roasted China?