US Threatens New Tariffs Against EU, Mexico
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Heard on the Street Recap: It's Raining Tariffs
More tariff threats. Over the weekend President Trump said 30% tariffs on goods from the European Union and Mexico would go into effect on Aug. 1. This would be up from the current rates of 10% and 25% on the two markets' goods respectively. It was unclear if goods that are compliant with the U.S.-Mexico-Canada free-trade agreement would still be exempt from the Mexico tariff, as they are currently.
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Yahoo
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Gold Climbs as Market Digests Mixed US Messages on Trade Talks
(Bloomberg) -- Gold advanced, erasing a modest drop on Monday, as investors digested mixed messages from the US regarding the progress of trade negotiations. Why Did Cars Get So Hard to See Out Of? Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests How German Cities Are Rethinking Women's Safety — With Taxis LA Homelessness Drops for Second Year Bullion rose as much as 0.5% after dropping by a similar amount in the previous session. President Donald Trump said he was open to more talks with major economies including the European Union. But that appeared to be at odds with his insistence that letters to governments setting tariff rates are 'the deals' for trade partners. The precious metal has surged by more than a quarter this year, hitting a record above $3,500 an ounce in April, as the US's aggressive and erratic trade policy enhanced its appeal as a store of value in uncertain times. However, the rally has stalled over the last three months as investors wait for more clarity on the eventual contours of the new trade system, and on signs they're hesitant to buy gold at such elevated levels. 'If trade talks deteriorate before August, we could easily see bullion retest or even breach its former highs,' said Fawad Razaqzada, a market analyst at City Index. 'For now, the market seems firmly in wait-and-see mode, keeping the gold forecast leaning cautiously bullish.' Gold rose 0.5% to $3,360.86 an ounce as of 12:37 p.m. in Singapore. The Bloomberg Dollar Spot Index was steady after rising 0.3% on Monday. Silver was little changed, after hitting a 14-year-high in the previous session before closing lower. Platinum and palladium climbed. Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions The New Third Rail in Silicon Valley: Investing in Chinese AI 'The Turbulence Is Brutal': Four Shark Tank Businesses on Tariffs Trump's Cuts Are Making Federal Data Disappear ©2025 Bloomberg L.P.
