Gold price rises after Trump's statements

Gold price rises after Trump's statements

US President Donald Trump announced new tariffs on imports as part of what he called “Liberation Day,” emphasizing that the move is aimed at achieving trade justice and protecting US industries.

A 10% tariff on all imports from all countries, effective April 5, 2025.

Additional tariffs on certain countries that Trump described as taking advantage of trade with the United States:

China and Taiwan: 32%.

European Union: 20%.

India: 26%.

Vietnam: 35%.

Mexico and South Korea: 18%.

25% tariffs on all imported cars to boost the domestic auto industry.

Trump justified these measures as a response to unfair trade practices by some countries, noting that the United States has been bearing a heavy burden due to persistent trade deficits. He explained that these steps aim to force other countries to lower their trade barriers and provide greater opportunities for US exports, in addition to promoting domestic manufacturing, creating new jobs, and reducing dependence on foreign imports.

The European Union criticized the decision and threatened retaliatory measures against US products, arguing that the policy would harm trade relations.

China called the move “economic aggression” and announced plans to impose retaliatory tariffs on US goods such as automobiles and agricultural products.

Japan and India expressed concern about the potential impacts on global supply chains.

Canada and Mexico asked for exemptions from the tariffs, warning of repercussions on the North American Trade Agreement.

The World Trade Organization called for dialogue to avoid escalating trade disputes.

At home, economists have warned that the tariffs could lead to higher prices for consumers and harm