Commodities

Commodities Battered as Trump’s Tariffs Threaten Global Economy

Sarah Bianchi, Chief Strategist of International Political Affairs at Evercore ISI, weighs in on how quickly countries like China will feel the impact of President Trump’s tariffs and how the tariffs will effect the amount of imports the United States brings in from around the world. Sarah talks about whether or not reciprocal tariffs will go into effect as intended or will countries work with the US to create new trade deals. She speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg’s “Balance of Power.”Source: Bloomberg

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By Alex Longley, Priscila Azevedo Rocha, and Grant Smith

April 3, 2025 at 8:57 AM UTC

Updated on

April 3, 2025 at 3:30 PM UTC

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Oil plunged and other commodities from industrial metals to grains slipped as President Donald Trump’s tariff onslaught ratcheted up a trade war that threatens to hurt the global economy and demand for raw materials. Gold fell from a fresh record high.

The levies were more aggressive than investors expected, with a 10% duty on all exports to the US and even higher rates on about 60 nations. While a swath of commodities — including oil, steel and aluminum — were exempted, there are mounting concerns about a broader hit to consumption, with major trading partners China and the European Union both vowing countermeasures.