US President Donald Trump says tariff letters to 12 countries signed, going out Monday - Reuters

FXStreetJul 7, 2025 12:20 AM

View all comments（0）



US President Donald Trump said on Saturday that he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the “take it or leave it” offers to be sent out on Monday, per Reuters.

Trump didn't say which nations would be targeted, or what rates would be set. However, he said on Thursday that the rates in the letters would go into effect August 1 and warned some could be as high as 70%.

Market reaction

At the time of press, the Gold price (XAU/USD) is trading 0.03% lower on the day to trade at $3,333.

Reviewed byJane Zhang

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Bitcoin Drops Below $70,000, May Log Sixth Straight Weekly Loss, Risking Slide Toward $65,000

TradingKey - As of the Asian trading session on November 13, Bitcoin (BTC) extended its decline, briefly falling below $70,000 intraday to reach a low of $69,150, marking a nearly three-month low. Higher-than-expected U.S. inflation data, rising expectations of a December Federal Reserve rate hike, and persistent net outflows from spot Bitcoin ETFs have collectively constituted the primary headwinds facing the cryptocurrency market recently.

Gold Price Forecast: Gold Tumbles Below $3,900 as Trump Says No Need for Iran Deal; Can October PPI Spur a Rebound?

TradingKey - As of the Asian session on Friday (November 13), gold prices (XAUUSD) rebounded intraday following a sharp drop on Thursday, with the latest price trading near $3,910. On Thursday, gold tumbled 2.76% to close at $3,877.41, confirming a breakdown below the $3,900 mark and touching a low of $3,852.27, hitting a fresh nearly one-year low. The decline in gold was primarily driven by renewed Middle East tensions pushing up international oil prices, coupled with persistently elevated U.S. inflationary pressures, which continue to weigh on gold's short-term trajectory.

SpaceX, Tesla Merger Reportedly Could Be Announced as Soon as December, Potentially Ahead of Democrats Taking Control of Congress in January

According to Bloomberg, citing people familiar with the matter, merger talks between SpaceX (SPCX) and Tesla (TSLA) have progressed, with a deal potentially being announced as early as December, though an option to delay the announcement until early 2027 has also been discussed. Boards and advisors from both companies are currently in discussions regarding transaction terms, the combined company's governance structure, and other matters.

Gold Slumps 3% Below $3,900: What Is Causing the Continued Decline in Gold Prices?

On November 12, Eastern Time, spot gold (XAUUSD) dropped more than 3% intraday to $3,864 per ounce, hitting its lowest level since October of last year. Higher-than-expected U.S. inflation data, coupled with successive hawkish signals from Federal Reserve officials, drove the U.S. dollar higher and kept investment demand for gold under sustained pressure.

US October PPI Preview: Fed Rate Hike Expectations Rise, PPI May Be Key Variable; How Will US Stocks, Dollar, and Gold Move?

TradingKey - On Friday (November 13) Eastern Time, the U.S. will release the October Producer Price Index (PPI). Following October's CPI once again exceeding expectations, the market will look to the PPI to further assess whether price pressures on the U.S. production side are spreading, as well as the likelihood of the Federal Reserve raising interest rates by 25 basis points or 50 basis points in December.

Featured Tools