Gold Trims Losses as Trump Sets Levies on Japan and South Korea

Gold pared losses after President Donald Trump said he’ll impose 25% tariffs on goods from Japan and South Korea starting Aug. 1, the first announcements in what the US president promised would be a flurry of written warnings and trade deals on Monday.

The move is part of Trump’s rush to overhaul US trade policies that have served as a steady source of uncertainty for markets, which has helped bolster demand for gold, a safe-haven asset. The two Asian nations now have a narrow three-week window to open their markets to American products and manufacture more in the US to avoid his unilateral levies.