Trump Confirms Gold Imports Will Avoid US Tariffs

Highlights:

• Donald Trump announced gold imports will not face US tariffs, easing market uncertainty after a recent federal ruling.
• Gold prices steadied at the time of writing, with spot gold still down more than 1.2% despite partial recovery.
• The decision reverses confusion sparked by a US Customs ruling that gold bars would be subject to country-based tariffs.

Presidential Statement Calms Bullion Market

Former US President Donald Trump announced that gold imports will not be subject to US tariffs, easing uncertainty in global bullion markets. Posting on social media, Trump wrote, “Gold will not be Tariffed!” The statement followed a federal ruling that had sparked confusion among traders and raised concerns over potential disruptions to the flow of bullion.

Market Reaction

At the time of writing, gold futures on New York’s Comex and the London spot market showed little change following Trump’s remarks. Spot gold recovered slightly from earlier losses but remained down more than 1.2% for the day. Market participants are still awaiting an official policy update from US agencies, as no formal clarification had been issued by Monday afternoon (early Tuesday AEST).

Background to the Tariff Confusion

The uncertainty began last week when the US Customs and Border Protection agency ruled that one-kilogram and 100-ounce gold bars would be subject to country-based tariffs introduced on August 7. The decision, communicated via a letter to a Swiss refiner and later posted publicly, caused immediate concern among global bullion traders.

Policy Clarification Expected

A White House official had indicated last week that a new policy would soon be released to clarify the tariff status of gold bars. Trump’s public statement suggests the administration will reverse the earlier interpretation, ensuring bullion imports remain exempt from tariffs.

Impact on Global Trade

If confirmed, the exemption would prevent potential supply chain disruptions and help maintain stability in gold pricing. Market watchers say the clarification is critical for major trading hubs and refiners, particularly those in Switzerland, which is a leading exporter of refined gold to the US.

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