Daily Telegraph: Germany is considering withdrawing 1,200 tons of its gold reserves from the United States
The Daily Telegraph, reported that the German government is considering withdrawing approximately 1,200 tons of its gold reserves stored in the United States, estimated at approximately €113 billion, following tensions sparked by the tariff policies launched by former US President Donald Trump.
The report explained that Berlin has begun seriously considering retrieving gold stored for decades in the vaults of the US Federal Reserve under the streets of Manhattan, amid concerns about the repercussions of the tight economic policies adopted by Trump during his term in office.
It’s worth noting that Germany holds the world’s second-largest gold reserves after the United States, and for decades has stored a significant portion of it outside its borders, particularly in the United States, under financial arrangements dating back to the post-World War II period.
In a related context, Manfred Weber, Chair of the European People’s Party (EPP) group in the European Parliament, said that the world is witnessing the birth of a new global order as a result of the trade escalation triggered by Trump, particularly after his decisions to impose severe tariffs on a number of countries, including the European Union.
On Wednesday, Trump announced a 25% tariff on auto imports, in addition to additional tariffs of up to 20% on various goods.
This move sparked widespread concern in global economic circles and opened the door for European moves to review their monetary and fiscal policies.
