Gold's price (XAU/USD) stabilizes near $3,030 at the time of writing on Monday as traders assess fresh tariff headlines over the weekend. News emerging that the Trump administration will ease off on the broad scope of tariffs being imposed on April 2 brings sighs of relief in markets.
Instead, United States (US) President Donald Trump is said to be looking for more specifically targeted tariffs on specific sectors per country or region.
This helps ease the fear of broad reciprocal tariffs. The idea behind these tariffs is to get companies to reshore back to the US.
However, a 25% tariff is not high enough to make the supply chains of corporations untenable, and the Trump administration would actually need to impose import taxes of perhaps 100% to 200%, as well as offer big government subsidies, to get companies to reshore their manufacturing, Marketwatch reports.
Source: FXStreet
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