April 2, 2018

Trade war jitters reemerged as the Chinese responded to last week’s announcement by the US of new import tariffs on Chinese steel and aluminum products.  In response, the Chinese are set to impose new tariffs up to 25% on 128 industry products made by US manufacturers.  The US equity markets fell sharply averaging more than -2.3% decline today across the major indices as well as the dollar(US).  Gold and Silver gained $16.80 (+1.27%) and $.342 (2.10%) respectively from their previous settlements on the news.