What could happen to

Donald Trump’s tariffs have sparked global frustration, especially among traditional U.S. allies like Germany. Trump claims the tariffs will boost American industry, but they’ve fueled a trade war with China and shaken the global stock market. On April 2, dubbed ‘Liberation Day,’ Trump announced sweeping tariffs on products from the EU, including a 20% duty and a separate 25% tariff on car imports. These moves have left Germany questioning the reliability of the U.S. as an economic partner.

Germany, which holds the second-largest gold reserves in the world, currently stores about 37% of its 1,236 metric tons of gold—worth approximately €113 billion—in the New York Federal Reserve. Due to concerns over the unpredictability of U.S. policies, German politicians from the Christian Democratic Union (CDU) are reportedly considering relocating their gold. Former minister Marco Wanderwitz has long pushed for regular inspections and even attempted a vault visit in 2012, which was denied. CDU member Markus Ferber has also demanded that Bundesbank officials personally verify the gold bars through regular checks.