Tariff crisis Trump's tariff policy

Trump extends China's tariff break by 90 days

Donald Trump has signed a presidential order extending the tariff break for China by another 90 days, sources told CNBC and the Wall Street Journal.

The tariff break would otherwise have expired tomorrow.

After the meeting between the US and China, which was held in Stockholm in July, no new agreement was presented. But since the meeting took place, Beijing has expressed optimism about an extended tariff break for another 90 days.

Trump clarifies the tariffs: There will be none for the gold trade

Gold will not be burdened by any tariffs. Donald Trump wrote on Truth Social on Monday.

The price of gold did not move significantly after the announcement. Gold futures closed at a record level on Friday, after reports that tariffs could be imposed on the commodity, CNBC writes.

The US Customs Service sent a letter last week stating that gold bars will be subject to tariffs, writes AFP.

Report: US consumers will bear the cost of tariffs

The effects of US trade tariffs on US consumer prices have barely begun to be seen, but will soon lead to consumers having to bear up to 67 percent of the costs. This is shown by figures produced by Goldman Sachs analysts.

According to the analysts' report, US companies have absorbed the biggest blows from the tariffs during the summer, but the burden will be placed on consumers as soon as companies start raising prices.

This in turn will result in increasingly rapid inflation, the analysts say, and predict that US PCE inflation will reach 3.2 percent at an annual rate in December.