Will Trump Impose Tariffs on Gold Imports?
Click to start listening
Synopsis
In a decisive move, President Trump has declared that there will be no tariffs on gold imports, putting an end to weeks of uncertainty. Coupled with an extension of the China tariff deadline, this decision could reshape international trade dynamics. Discover the implications of these announcements for the gold market and U.S.-China relations.
Key Takeaways
- No tariffs on gold imports announced by Trump.
- Speculation about tariffs arose after a ruling by U.S. Customs and Border Protection.
- The decision is aimed at stabilizing the gold market.
- Trump extended the deadline for China tariffs by 90 days.
- Ongoing trade negotiations continue between the U.S. and China.
Washington, Aug 12 (NationPress) US President Donald Trump has announced that his administration will not impose tariffs on gold imports. This decision comes after a period of speculation regarding potential country-specific duties on gold bars.
Trump made this clear in a brief statement posted on a social media platform, addressing concerns that arose following a recent ruling by U.S. Customs and Border Protection which indicated that 1-kilogram and 100-ounce gold bullion bars from Switzerland could face tariffs.
In his post, Trump declared, "Gold will not be Tariffed!", according to reports from Yonhap news agency.
The gold bars mentioned are primarily used for backing contracts on The Commodity Exchange, which is a significant market for gold futures, but they are also sold to jewellers and industrial consumers for manufacturing.
On Friday, the Swiss Association of Manufacturers and Traders in Precious Metals released a statement opposing the potential U.S. gold tariffs, warning that new duties could "negatively impact the international flow of physical gold."
Additionally, Trump signed an executive order extending the deadline for China tariffs by another 90 days.
This order followed Trump's vague response to reporters regarding whether he would prolong the lower tariff rates just a day after he urged Beijing to significantly increase its purchases of U.S. soybeans.
The tariff truce between Washington and Beijing was set to expire at 12:01 AM on August 12 (04:01 GMT), but the Trump administration had hinted at the possibility of an extension, as reported.
This extension comes in the wake of recent trade negotiations between U.S. and Chinese officials held in Stockholm last month.
Last week, U.S. Commerce Secretary Howard Lutnick suggested that Trump is likely to extend the tariff pause by an additional 90 days.
Point of View
The recent announcements by President Trump signal a cautious approach towards trade relations, especially with China. The decision to forgo tariffs on gold imports shows a recognition of the importance of maintaining stability in the precious metals market, while the extension of tariffs with China reflects ongoing tensions. Observers will be keen to see how these decisions play out in the larger economic landscape.
NationPress
19/08/2025
Frequently Asked Questions
What did Trump announce about gold tariffs?
Trump announced that his administration will not impose tariffs on gold imports, alleviating concerns that had been raised over potential duties.
Why were there concerns about tariffs on gold?
Concerns arose following a ruling by U.S. Customs and Border Protection, which indicated that certain Swiss gold bullion bars could face tariffs.
What is the impact of Trump's announcement on gold trading?
By eliminating the prospect of tariffs on gold imports, Trump's announcement is likely to stabilize the gold market and maintain the flow of gold trade.
What else did Trump announce regarding tariffs?
Trump also signed an executive order extending the deadline for China tariffs by an additional 90 days.
How might these decisions affect U.S.-China relations?
The extension of the China tariff deadline indicates ongoing negotiations and a desire to maintain dialogue, but tensions remain high.
