Major Trade Escalation: Europe Plans Strong Retaliatory Tariff Against Trump's Threats!
The European Union is discussing activating a package of tariffs worth 93 billion euros (~108 billion dollars) on American goods, in addition to the possibility of using the "trade nuclear option" (Anti-Coercion Instrument) for the first time to restrict American companies in the European market!
Reason: Response to Trump's 10% tariffs (rising to 25% in June) on 8 European countries (Denmark, Norway, Sweden, France, Germany, Britain, the Netherlands, Finland) due to the rejection of the Greenland deal.
→ European leaders: "We will not be blackmailed", and emergency meetings are ongoing now!
Outcome?
Gold continues to rise as a strong safe haven:
- XAU/USD has reached new record levels around 4,667–4,690 dollars per ounce today (+1.5–1.6% approximately)!
- Silver is close to 94