Gold's price (XAU/USD) stabilises near $3,025 at the time of writing on Tuesday while markets are mulling tariff headlines from United States (US) President Donald Trump.
The president issued an executive order on Monday to impose "secondary tariffs" of 25% on all imports from those countries buying Oil from Venezuela, which would mean a sharp rise in levies on goods from China and India.
On Monday, Trump said reciprocal tariffs will be eased off for countries meeting US requests on reshoring their businesses and factories. He went further and said tariffs on cars, aluminum and pharmaceuticals will be issued in the very near future. Trump also added that lumber and chips could be a potential tariff target as well.
Source: FXStreet
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