Gold prices continue to rise after Mr. Trump announced the tariff plan - Lang Son Newspaper and Radio and Television

According to NDTV, spot gold prices increased by 0.6% to $3,129.46/ounce at 4:53 p.m. on April 2 (Eastern US time). Meanwhile, US gold futures prices increased by 0.6% to $3,166.20.

An independent metals trader said US President Donald Trump's tit-for-tat tariffs were much stronger than expected, which would lead to a market sell-off and a weaker US dollar.

Gold prices rose after Mr. Trump announced new tariffs.

“ The outlook for gold is very good right now with a new short-term target of $3,200,” the trader said. “There are a lot of unanswered questions and I feel like the negotiable stuff will move the market in the short term.”

On April 2, speaking at an event at the White House, President Trump declared, " We are economically independent." With this argument, Mr. Trump declared that the US would impose a 25% tax on imported cars and reciprocal taxes on all countries.

In addition, President Trump announced tariffs of at least 10% on almost all goods imported into the US, plus even higher tariffs on dozens of countries with the highest trade deficits with the US.

Imports from China will be subject to a 34% tariff, Trump said, on top of the 20% tariff he has already imposed on the country. Close US allies will not be exempt, including the European Union, which faces a 20% tariff. The US will also impose a 46% tariff on imports from Vietnam.

Canada and Mexico, two of the US's largest trading partners, face 25% tariffs on many goods and will not be subject to additional tariffs from the new announcement.

The higher tariffs will take effect on April 9 and apply to about 60 countries, a White House official said. The base tariff of 10% will take effect on April 5.

In addition, after his speech, Mr. Trump also signed an executive order to close a trade loophole used to transport low-value packages - packages worth $800 or less - from China without paying duties, called "de minimis." The executive order applies to goods from China and Hong Kong, effective from May 2, according to information from the White House.

Source: https://baolangson.vn/gold-price-continues-to-increase-after-mr-trump-commissions-on-tax-planning-5043025.html