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White House to Clarify Misinformation on Gold Tariffs
The Trump administration suggested it would issue a new policy clarifying that imports of gold bars should not face tariffs, after the US government stunned traders by ruling that they would be subject to duties. The White House intends to post an executive order in the near future to clarify what an official called misinformation about the tariffing of gold and other specialty products. The official detailed the plans Friday on condition of anonymity. Spot gold and futures prices on New York’s Comex fell after the White House statement. Industry figures had previously understood that bars would be exempt from ... (full story)
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*WHITE HOUSE TO CLARIFY MISINFORMATION ON GOLD TARIFFS: OFFICIAL White House Official Says "Gold Order To Be Posted In Near Future
The US has slapped tariffs on imports of one-kilo gold bars, in a move that threatens to upend the global bullion market and deal a fresh blow to Switzerland, the world’s largest refining hub, Report informs via The Financial Times. The Customs Border Protection agency said one-kilo and 100 ounce gold bars should be classified under a customs code subject ...
Gold prices surged overnight after the Trump administration said gold bars will be subject to tariffs. Traders, analysts and executives were left stunned since they thought bullion would be exempt from President Donald Trump's reciprocal tariffs. This is very bad news for Switzerland. Bloomberg's Oliver Crook reports.
