Gold prices have risen after Donald Trump and after aluminum prices rise, he will pay 25 % of steel and aluminum imports, shaking financial markets.
Since investors arrived for a safe shelter for their money, the price of gold space on Monday morning increased by more than 1 % to 2,896 (2,336)) an ounce, which more than a record high -set on Friday Is Among the concerns over the effects of Trump’s policies, gold has been growing in recent weeks. It has increased by 10 % since the beginning of the year, after eliminating 2024 on an ounce at 6 2,623.
Aluminum prices also increased, as investors fear that the supply of taxes can cause problems and affect economic growth, which will reduce metal demand. The three -month aluminum contract on the London Metal Exchange increased by 0.3 % to 2,635 (2,122).
Talking to reporters in Air Force One, the US president said he would announce mutual rates on Tuesday or Wednesday, so that while matching tariff rates by other countries, almost Immediately impact immediately Put. Trump said, “very straightforward, if they charge us, we charge them.”
According to data from the government and the American Iron and Steel Institute, Canada, Brazil, Mexico, South Korea and Vietnam are the largest sellers of steel in the United States, while Canada is the main provider of imported aluminum.
“I suspect that these 25 % of the revenue will have to wear more prices for American manufacturers. Daniel Hans, a senior commodity strategist in Sydney, said its import dependence is high, 40 % -45 % for aluminum and 12 % -15 % for steel.
Jefferiz’s analyst Chloe Lemary and Ben Brown said that the titanium generated from Russian is likely to disrupt new metal prices, which was sometimes two to three times cheaper than alternative sources, but they He added that he will still represent this concern. Civil Aerospace for supply chain.
In South Korea, the Ministry of Industry said Monday that it held an emergency meeting with steel makers in Seoul to discuss measures to reduce the effects of potential prices. Shares of the country’s oldest steel -making company, Hyundai Steel, fell 2.9 %.
The company, which supplies steel to Hyundai and Kiya’s car factories in the United States, has previously said that it is considering the construction of a steel plant in the United States.
Ministers in Australia will emphasize US taxes on imports of steel and aluminum. The Prime Minister, Anthony Albani, said he would prosecute the United States for a “free and fair trade” in the next call with Trump.
On Monday, the dollar increased by 0.2 % compared to a basket of currencies, while production (effectively interest rates) on US government bonds, which is known as the treasury, increased.
Trump said on Sunday that his administration was reviewing US treasury loans payments for possible fraud, suggesting that the country could have less than thinking. According to the US Treasury, the United States has a 36TN of public debt, which is more than 120 % of GDP.
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Trump said the administration officials, who are combing through payment records to identify any wasteful expenditures, have diverted their focus on loan payments.
Trump said, “We’re seeing even treasures.” One problem can be – you are reading about it, with the treasury and this can be an interesting issue. “
He added: “It may be that many of these things do not count. In other words, some of the things we are looking for is very cheating, so maybe we think we have less debt Is
It was unclear whether Trump was referring to the loan service or other official payments made by the Treasury Department.
According to the Independent Budget Watch Dog, Trump’s proposed tax cuts will increase trillions of dollars.
