Gold gained, bolstered by haven demand as traders weighed fresh tariff threats from President Donald Trump after he declared a 30% rate for the European Union and Mexico effective next month.

The global economy is on tenterhooks in the run-up to United States President Donald Trump’s July 9 deadline for dozens of countries to reach trade deals or face sharply higher tariffs. Wednesday’s deadline comes after Trump announced in April a 90-day pause on his steepest tariffs after his “Liberation Day” plans sent markets into a tailspin.

President Donald Trump has delayed implementing his widespread "Liberation Day" tariff for a second time, flip-flopping on whether the new deadline was ironclad.

The IMF said on Thursday it was closely monitoring the latest U.S. tariffs announcements, saying uncertainty about the global economic outlook remained high and urged countries to work constructively to facilitate a stable trade environment.

Tariffs are impacting the global market.The Trump administration announced a tariff deadline extension for countries to strike a deal with the U.S. as most trad

The United States on Monday announced 25% tariffs on imports from Japan and South Korea, set to take effect on Aug. 1. These tariffs target major trading partners and focus on automobiles, electronics and industrial products,

White House officials have suggested that the deadline could be postponed for some countries, while others could receive a letter outlining new tariffs.

On Wednesday night, July 9, company owners, investors and politicians will likely be consuming copious amounts of coffee, meticulously analysing scenarios and countermeasures as they anxiously await updates on the US government's stance on tariffs,

In the Trump administration, it seems that a deal is not a deal, it’s a threatening letter, the terms of which are completely subject to change. Meanwhile, a deadline isn’t even a deadline, but an endless cycle of, in this case, nonexistent negotiations.

Still, the rate is lower than what Trump threatened and opens the way for future bilateral negotiations. Read more at straitstimes.com. Read more at straitstimes.com.

The US plans to reintroduce tariffs on imports from Taiwan and the EU starting August 1 if trade agreements are not reached by July 9.