White House says tariff push will continue despite backlash over rising prices

What happened

The White House signalled it intends to press ahead with its tariff programme, even as political pressure builds over rising prices following the midterm vote. Opinion polls cited in the reporting showed growing opposition among the public to President Trump's trade measures.

At a summit in Washington, business executives described higher input costs and supply chains being reorganised as companies adjust to the duties. No change to the policy course was announced.

Why it matters

Tariffs are a cost that lands first on importers and then filters through pricing, margins and consumer demand. Equity indices are exposed through companies with cross-border supply chains, while the inflation channel feeds into expectations for monetary policy and therefore into the dollar and rate-sensitive assets.

Trade policy that stays in place against visible political resistance also keeps a layer of uncertainty in markets, since firms must plan around rules that may be contested. Gold is often watched in such periods because it reacts to shifts in real yields, inflation expectations and broader policy uncertainty rather than to company earnings.

What to watch

Further statements from the White House on the scope and timing of tariffs, and commentary from company executives on costs and supply chains following the Washington summit, alongside any additional polling on public attitudes to the trade measures.