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Sunday, Apr 20, 2025
Experts note that the uncertainty has created favorable conditions for gold, which is predicted to climb to new heights this year.
On Friday, Trump administration granted exclusions from the steep reciprocal tariffs on smartphones and a set of other electronics products.
China's retaliation intensified the economic turmoil unleashed by Trump's tariffs.
US President Donald Trump announced a 90 day pause on his sweeping tariffs Wednesday, giving all countries a 10 percent baseline except China, which will see even higher levies.
Following the rate cut, the key policy rate eased to 6 per cent providing relief to home, auto and corporate loan borrowers.
Additional US tariffs on Chinese imports are set to reach 104 percent on Wednesday.
Israeli Prime Minister Benjamin Netanyahu seeks to limit the sting of tariffs imposed on his country at a meeting with US President Donald Trump.
The announcement injected further turbulence into global financial markets, which have fallen steadily since Trump's announcement.
Apple, whose iPhones are largely manufactured in China, fell over nine percent.
Goods entering the world's biggest economy under the US-Mexico-Canada Agreement will continue to be exempted.
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