Gold rose on Friday after U.S. President Donald Trump announced new tariffs on Canadian imports and broader tariff threats to other trading partners, but gains were capped by a stronger dollar amid mounting signs of turmoil in global trade landscape.

The U.S. dollar has firmed up against its major counterparts, as sentiment toward the greenback improved due to its safe-haven appeal amid the ongoing tariff uncertainties. The U.S. Dollar Index edged up 0.

The Canadian dollar weakened sharply after President Trump ramped up the threat of higher tariffs against Canada, but recouped losses after White House officials clarified that the exemption in compliance with the USMCA trade pact would remain in place.

The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher U.

President Donald Trump’s plan to hit Brazil with a 50% import tax on Aug. 1 threatens to increase prices for coffee and orange juice, two of the South American country’s key products.

President Donald Trump says he's prepared to tariff and punish countries that challenge the U.S. dollar as the global reserve currency.

President Donald Trump's antitrust enforcers recently cleared a string of multibillion-dollar deals in a week, demonstrating a willingness to settle with companies that marks a shift from the Biden administration.