US EditionTrump says gold will not be tariffed
UNITED STATES, AUG 11 – President Trump ended uncertainty by confirming gold imports are exempt from the 39% tariff on Swiss goods, easing market concerns after gold futures hit record highs, analysts said.
- On August 11, President Donald Trump stated that tariffs would not be applied to gold bars imported into the United States, helping to alleviate recent market worries.
- This announcement came after a July 31 ruling by U.S. Customs and Border Protection indicated that certain commonly imported gold bars might be subject to import tariffs based on their country of origin.
- The ruling had triggered disruption fears, including a halt in shipments by a major Swiss gold refinery and a sharp rise in gold futures to record highs.
- After President Trump's announcement that imported gold bars would be exempt from tariffs, U.S. gold futures declined 2.5% to $3,404.70 an ounce, and spot gold fell about 1.2% to $3,358.33. Analyst Ross Norman expressed relief, noting that the potential disruption to the market had been avoided.
- The removal of tariff threats calmed global bullion markets but uncertainty remains as the White House plans an executive order to clarify misinformation on gold tariffs.
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Donald Trump rules out tariffs on imported gold bars, eases market fears
US President Donald Trump announced that imported gold bars will not face tariffs, easing market fears that had pushed gold prices to record highs. Following the announcement, gold futures dropped 2.5%, with other precious metals showing mixed reactions.
·New Delhi, India
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kreiszeitung.de+8 Reposted by 8 other sources
A newspaper report on alleged US tariffs on gold imports raised the price of the precious metal. Now, the US President clarifies the facts.
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Total News Sources37
Leaning Left2Leaning Right6Center15Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
C 65%
R 26%
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