"Her comments at the Milken Institute come on a day when gold prices hit $4,000 an ounce for the first time as investors seek safe haven from a weaker dollar and geopolitical uncertainty and before the IMF and World Bank hold their annual meetings next week in Washington. Trump's trade penalties are expected to be in sharp focus when global finance leaders and central bankers gather."
"Countries have put in place decisive economic policies, the private sector has adapted and the tariffs have proved less severe than originally feared. "But before anyone heaves a big sigh of relief, please hear this: Global resilience has not yet been fully tested. And there are worrying signs the test may come. Just look at the surging global demand for gold," she said."
"The Republican administration imposed import taxes on nearly all U.S. trading partners in April, including Canada, Mexico, Brazil, China and even the tiny African nation of Lesotho. "We're the king of being screwed by tariffs," Trump said Tuesday in the Oval Office during a meeting with Canadian Prime Minister Mark Carney. While the U.S. has announced some trade frameworks with nations such as the United Kingdom and Vietnam, the tariffs have created uncertainty worldwide."
Global economic uncertainty has become entrenched and may persist. Gold prices reached $4,000 an ounce as investors sought safe havens amid a weaker dollar and geopolitical risks ahead of IMF and World Bank annual meetings. Worldwide growth is forecast at 3% this year, supported by decisive policy responses, private-sector adaptation, and tariffs that have proven less severe than feared. Resilience remains untested, with surging demand for gold signaling potential stress. U.S. import taxes on nearly all trading partners risk margin compression, price pass-through, higher inflation, and retaliatory trade shifts that could amplify global uncertainty.
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