HONG KONG: Gold and silver hit report highs on Monday (Jan 19) whereas most fairness markets fell after United States President Donald Trump revived commerce warfare fears by threatening a number of European nations with tariffs over their opposition to the US shopping for Greenland.
Trump has fanned already-rising geopolitical tensions this month by insisting that Washington would take management of the North Atlantic island, citing nationwide safety wants.
And on Saturday, after talks didn’t resolve “basic disagreement” over the Danish autonomous territory, he introduced he would hit eight international locations with recent levies over their refusal to undergo his calls for.
He mentioned he would impose 10 per cent tariffs on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland from Feb 1 – rising to 25 per cent from Jun 1 – if they didn’t conform to the takeover.
The announcement drew a right away response, with a joint assertion from the international locations saying: “Tariff threats undermine transatlantic relations and threat a harmful downward spiral.”
The transfer additionally threatened a commerce deal signed between the US and European Union final 12 months, with German Overseas Minister Johann Wadephul telling ARD tv: “I do not consider that this settlement is feasible within the present state of affairs.”
