Seeking shelter from Trump’s fury, U.S. trade partners reach deals with each other
AI Summary
Faced with President Trump's tariffs and unpredictable trade policies, U.S. allies are increasingly seeking trade agreements with each other to diversify their economies and reduce reliance on the United States. These nations are reportedly discarding old differences to forge new partnerships. Simultaneously, central banks and global investors are moving away from the U.S. dollar, opting for gold investments. Experts suggest these actions could weaken U.S. influence and potentially lead to higher interest rates and prices for Americans. Despite previous trade deals, Trump has repeatedly threatened new tariffs, prompting trade partners to accelerate diversification efforts. Some advisors are concerned about the decline in foreign holdings of U.S. Treasury notes.
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