Commodities
Oil Slumps, Gold Rallies as Traders Review Trump Tariff Hit
Vietnam, facing a 46% tariff rate, is the world’s biggest producer of robusta coffee, used in instant coffee.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
The long—awaited unveiling by President Donald Trump of sweeping reciprocal import tariffs triggered a slump in oil prices on Thursday, while gold rose to a fresh record.
There was also an important carve-out for commodities from Canada and Mexico, as well as for energy and energy products.