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.
48 Articles
48 Articles
President Donald Trump said Monday that gold will not be subject to tariffs that do weigh on...
Trump Says Gold Will Be Exempt From Tariffs, Easing Market Jitters
President Donald Trump announced on Aug. 11 that gold would be exempt from tariffs, easing investor concerns over a potential sharp rise in import costs of the precious metal and sending prices lower. “Gold will not be Tariffed!” Trump said in a social media post on Monday. The statement followed a U.S. Customs and Border Protection (CBP) ruling that 1-kilogram and 100-ounce gold bars imported from Switzerland would be subject to a 39 percent ta…
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.
Coverage Details
Bias Distribution
- 62% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
