President Donald Trump announced Monday that his administration will not impose tariffs on gold imports, providing clarity after reports sparked volatility in the gold market last week.
Posting on Truth Social, Trump confirmed the policy following confusion over a Customs and Border Protection ruling that classified certain gold bars — specifically 1-kilogram and 100-ounce bars — under a customs code that would have made them tariff-eligible.
Concerns over potential tariffs had fueled speculation about disruptions to gold supply chains and possible price hikes in the U.S. market. Gold tariffs, analysts warned, could have increased costs for jewelers, investors, and manufacturers relying on imported gold.
While Trump has imposed tariffs on other metals, including copper, steel, and aluminum, as well as automobiles and a wide range of imports from dozens of countries, he emphasized that gold will not be among the targeted commodities.
The White House had indicated last week that an executive order would be issued to clarify the administration’s stance. Monday’s announcement appears to settle the matter, at least for now, alleviating concerns from industry stakeholders.
Sources:
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
