Trump Announces No Tariffs on Gold Bars
- Trump declares gold bars will face no tariffs, countering initial confusion.
- Market adjusts as gold prices initially rise, then decline.
- White House clarifies, promising an executive order soon.
President Donald J. Trump announced on his social media that the United States will not impose tariffs on gold, counteracting previous confusion from a U.S. Customs and Border Protection ruling.
Trump’s statement negates tariff fears, stabilizing gold prices after initial market concerns spurred by agency-level clarification sparked volatility.
President Donald J. Trump announced that the United States will not impose tariffs on gold. This follows confusion caused by a U.S. Customs and Border Protection ruling on tariff rates for certain gold imports.
Trump stated, “Gold will not be Tariffed!” via social media, counteracting the previous speculation. The White House called prior reports “misinformation.” An executive order will soon clarify the situation.
The speculation regarding gold tariffs had led to a temporary increase in gold prices. Subsequently, prices began to decline following the official clarifications from Trump and the White House.
Financial entities and markets were directly impacted as initial tariff speculation affected gold pricing temporarily. The White House clarified that no federal funding or allocations relate to this announcement.
Gold market participants, including importers and traders, stay vigilant awaiting the executive order. Agencies will adjust guidance accordingly following this directive.
Potential regulatory or market adjustments could arise depending on official documentation. Historical trends show executive orders have previously overridden agency rulings, suggesting stability might return to gold markets.
