Silver price (XAG/USD) rebounds after two consecutive days of losses, trading around $31.30 per troy ounce during Asian market hours on Monday. The precious metal benefits from safe-haven demand amid concerns over US President Donald Trump's tariff policies.
Over the weekend, Trump announced an additional 10% tariff on Chinese imports, effective Tuesday, following a similar 10% tariff imposed last month. Additionally, on Thursday, he stated via Truth Social that 25% tariffs on Canadian and Mexican goods will take effect on March 4.
In response, China is considering countermeasures, potentially including both tariff and non-tariff restrictions. US agricultural and food products are expected to be key targets, with possible non-tariff actions such as increased regulatory scrutiny, customs delays, and other trade barriers.
Meanwhile, geopolitical tensions intensified as a dispute arose between President Trump and Ukrainian leader Volodymyr Zelenskyy during peace negotiations.
Zelenskyy was expected to sign an agreement granting the US expanded access to Ukraine's rare earth minerals and hold a joint press conference. However, the plan was abandoned following a heated exchange between the leaders in front of the media.
Source: FXStreet
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