Trump Tariffs Shake Global Markets, UK Eases Energy Prices, ...

Trump Tariffs Shake Global Markets, UK Eases Energy Prices, and Gold Climbs on Rising Uncertainty

– President Donald Trump announced significant tariff measures that heightened global trade tensions. He declared a 50% tariff on goods from the European Union starting June 1, citing unfair trading practices.

– Trump also extended a 25% tariff to foreign-manufactured smartphones, including Samsung and Apple products not produced domestically. These actions triggered a sharp decline in global markets, with major indices in Europe and the U.S. falling, and Apple shares dropping notably. In response, European industries and government officials expressed concern, and hopes for a negotiations.

– Meanwhile, the UK’s energy regulator Ofgem announced a 7% reduction in the energy price cap for July-September due to declining wholesale gas prices, slightly easing consumer burdens. However, analysts and charities maintained that energy bills remained high by historical standards. Additionally, the German economy showed unexpected growth in Q1 2025, partly due to pre-tariff exports to the U.S.

– These developments collectively highlights the fragile state of international trade and economic policies amid shifting global alliances.

– Amid the uncertainty, gold prices continued to rise as investors sought safe-haven assets.