International News 14 March 2025
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Gold Price Hits Record High on Trump's Tariffs
The world gold price reached a new record high of US$2,990.09 per troy ounce, while domestically, the price of Antam gold bars also reached a record of Rp 1.742 million per gram. The increase in gold prices is attributed to the uncertainty surrounding US President Donald Trump's import tariff policy and global trade tensions. The market is also anticipating a loosening of the Federal Reserve's monetary policy, which is driving up the price of gold. Investors are seeking the precious metal as a hedge against market volatility and risks associated with escalating trade tensions. Analysts believe that the retaliatory tariff policy could continue to cause market turmoil, making gold an attractive safe haven asset in the second quarter of 2025.
Wall Street closes in a slump, dragged down by trade war fears
Wall Street experienced a significant decline as investors worried that the US tariff war and weak inflation data could lead to a potential recession. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all closed lower. The communication services and consumer goods sectors were particularly affected. The sell-off was triggered by the European Union's retaliation against US tariffs on steel and aluminium, leading President Trump to threaten increased tariffs on European wine and spirits. Technology stocks and tech-related megacap stocks played a major role in the decline of the Nasdaq. The continuous stream of tariff-related news has created a negative sentiment among investors, according to Mike Dickson, the head of research at Horizon Investments.
https://investasi.kontan.co.id/news/wall-street-ditutup-anjlok-terseret-kekhawatiran-perang-dagang
New round of trade war, Trump threatens 200% tariffs on European wines
US President Donald Trump has threatened to impose a 200% tariff on wine, cognac and other alcohol imports from Europe as part of an ongoing trade war. The move comes in response to the European Union's plan to impose tariffs on American whisky and other products. The European Commission has yet to respond to Trump's threat. While many of the EU's proposed countermeasures would apply to products of symbolic value, there is significant concern over the proposed 50% tariff on US bourbon, which could have a significant impact on the industry. The European Union currently accounts for around 40% of all alcoholic beverage exports, while the United States accounts for 31% of EU wine and spirits exports. The escalating tariffs have raised fears of a global recession.