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President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.

“We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is,” Trump told reporters Wednesday at the John F. Kennedy Center for the Performing Arts in Washington where he was attending a performance.

“At a certain point, we’re just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it,” he added.

Gold gained for a second day on increased tensions in the Middle East, with its haven status also supported by President Donald Trump’s comments that he will inform trading partners on tariff rates within two weeks.

Bullion rose as much as 0.6% to around $3,373 an ounce, extending a 1% gain from the earlier session when it was also boosted by a declining dollar. Buying interest increased after the US ordered some embassy staff to depart Baghdad and allowed military families to leave the Middle East, after Iran threatened to attack US bases if talks over its nuclear program fell through.

Separately, Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. The president also said a trade framework with China has been completed, with levies between the two largest economies to be maintained at their current levels.

Asia-Pacific markets traded mixed as investors assessed U.S. President Donald Trump’s declaration that a trade deal with China was “done.”

Japan’s Nikkei 225 was down 0.10% while the broader Topix added 0.12%. South Korea’s Kospi climbed 0.34%, and the small-cap Kosdaq was little changed.

Futures for Hong Kong’s Hang Seng index last traded at 24,252, pointing to a weaker open compared to the HSI’s last close of 24,366.94.

US stocks fell off the highs of the day, despite a better-than-expected inflation report.

The Dow Jones fell 250 points off the highs of the day to end flat, while selling in tech stocks meant both S&P 500 and Nasdaq underperformed.

The US Dollar fell to 2023-lows, while Gold prices saw a rebound from lower levels.

Futures on Wall Street are down even after US President Donald Trump announced that a deal with China is “done” and is only subject to approval from leaders of both countries.

However, Dow futures are currently down 100 points, S&P 500 futures are below the flat line, while the Nasdaq futures are down 60 points.

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