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JPMorgan's $4B delivery of gold adds to fear tariffs will reshape global trade
US bank, world’s biggest bullion dealer, says it will deliver raw material against contracts that will expire in February
The US bank, the world’s biggest bullion dealer, said it would deliver the hefty raw material, weighed as 30m troy ounces of gold, or 1.875m lbs, against contracts that will expire in February. Before an expected press conference at Mar-a-Lago in Palm Beach, Florida, on Saturday, Trump said he planned to impose new tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, copper, oil and gas as soon as mid-February. US industries, including the oil and auto sectors, have lobbied the new administration for tariff exemptions, while Canada and Mexico have prepared a list of retaliatory measures to hit US products.
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