The market is shaking after Trump's tariff announcement - how will Thailand and gold be affected?

Former US President Donald Trump has once again created global economic turmoil by imposing 25% tariffs on goods from Canada and Mexico , as well as 10% on Chinese products . The decision has had far-reaching consequences for the world economy, with direct responses from affected countries and rising uncertainty in markets.

Canada and Mexico's reactions

Canadian Prime Minister Justin Trudeau has responded by imposing 25% tariffs on $155 billion worth of U.S. goods . These tariffs target items such as juice, beer, bourbon, clothing, sporting goods and lumber. Trudeau also urged Canadians to actively avoid American goods and avoid travel to the United States.

Mexican President Claudia Sheinbaum has ordered her finance minister to implement a “Plan B,” meaning Mexico will take countermeasures to defend its economic interests. Mexico rejects Trump’s claims that the Mexican government is collaborating with criminal groups and sees the tariffs as a political maneuver.

Threats to Europe, Canada and Greenland

Trump has also targeted Europe , threatening to impose massive tariffs on European goods, particularly in the auto and agricultural sectors. According to Trump, “Europe has not been kind to the United States,” and he sees it as a legitimate countermeasure to punish the EU with high tariffs.

In addition, Trump has once again raised the issue of Greenland , with his vice president, JD Vance, claiming that Denmark is a “bad ally” and is not doing a good enough job of defending the island. Vance suggested that the US could simply “take control” of Greenland if necessary and claimed without evidence that the people of Greenland are unhappy with Danish rule.

Danish Prime Minister Mette Frederiksen has dismissed the claims, pointing out that Denmark has been a loyal ally of the US for many years. She also believes that Trump's tariffs could force Europe to respond with "very robust measures", even though it would mainly affect ordinary people.

How is Thailand and gold affected?

Trump's tariffs and the uncertainty they create have already affected global markets. One of the most obvious effects is on the price of gold , which traditionally rises in uncertain times as investors seek safe haven assets.

On February 3, 2025, it was noted SPDR Gold Shares ETF (GLD) to 261,08 USD, a marginal increase but part of a larger trend where gold is seen as a stable investment opportunity. Several analysts warn that the situation could lead to further volatility in the market, which could push the gold price up further.

Escalating global uncertainty

The world appears to be heading towards a deeper crisis of economic and political instability , where norms of sovereignty and trade relations are being undermined in a way that benefits no one. With increased protectionism and political statements creating unrest in diplomatic relations, it is unclear who is really benefiting from the chaotic situation.

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Text: Editorial team

Image license: JeanineW, Pixabay , Original image