Tariffs, Trade Wars and the U.S. Dollar
Renewed concerns about a potential trade war as a direct result of proposed tariffs on steel and aluminum has resulted in both a lower U.S. dollar as well as buyers accumulating gold. Gold futures are currently trading up $15.50 at $1335.40.
Last week President Donald Trump proposed the implementation of steel and aluminum tariffs. This proposal has met with global and internal resistance. Nonetheless, President Trump remains steadfast in his desire to initiate these tariffs.
Pushback on President Trump’s proposed tariffs internally are coming from both Republican lawmakers as well as his administration. This pressure is an attempt to limit tariffs with benchmarks and quotas.
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