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Key Points

Trump has confirmed that gold imports will not face new tariffs, easing concerns in the precious metals market. He also extended the China tariff deadline by 90 days, signaling ongoing trade negotiations. The decision comes after Swiss industry leaders warned against disrupting gold trade flows. The move reflects Trump’s balancing act between trade pressures and economic stability.

Key Points: Trump Exempts Gold From Tariffs and Extends China Trade Deadline

  • Trump exempts gold from tariffs after Swiss industry pushback
  • Extends China tariff deadline by 90 days amid trade talks
  • Decision follows speculation on Swiss gold bar duties
  • Move aims to stabilize global gold market flows
2 min read

Trump says no tariffs on gold imports, extends China tariff deadline

Trump announces no tariffs on gold imports and extends China tariff deadline by 90 days amid ongoing trade negotiations.

Trump says no tariffs on gold imports, extends China tariff deadline
"Gold will not be Tariffed! — Donald Trump"

Washington, Aug 12

US President Donald Trump has said his administration will not impose tariffs on gold imports, an announcement following days of speculation that gold bars might be subject to country-specific duties.

Trump issued a terse statement in a social media post, after speculation arose over the possibility of gold tariffs after a recent ruling by U.S. Customs and Border Protection that 1-kilogram and 100-ounce gold bullion bars from Switzerland would face duties.

"Gold will not be Tariffed!," Trump wrote on Truth Social, reports Yonhap news agency.

The two types of gold bars in question are used to back contracts on The Commodity Exchange, the key gold futures market, but they are also sold to jewellers or industrial consumers for manufacturing purposes.

On Friday, the Swiss Association of Manufacturers and Traders in Precious Metals issued a statement against potential U.S. gold tariffs, saying that new duties, if imposed, may "negatively impact the international flow of physical gold."

Moreover, Trump signed an executive order to extend the China tariff deadline by an additional 90 days.

The order followed a non-committal answer by Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans.

The tariff truce between Washington and Beijing was scheduled to expire at 12:01 AM on August 12 (04:01 GMT), but the Trump administration had indicated the possibility of an extension, according to reports.

This extension of the deadline follows the recent round of trade negotiations between US and Chinese officials held last month in Stockholm.

Last week, US Commerce Secretary Howard Lutnick said Trump is likely to extend the tariff pause by another 90 days.

—IANS

- IANS

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Reader Comments

P
Priya S
This shows how interconnected global markets are. What happens in US gold markets affects our local jewelry shops in Mumbai. Hope our government also takes note of these developments.
R
Rohit P
Trump's unpredictable policies keep everyone on their toes! First speculation about gold tariffs, then sudden reversal. This uncertainty isn't good for business anywhere, including India.
S
Sarah B
As someone working in the jewelry industry in Delhi, I'm relieved. Our gold imports would have become more expensive if tariffs were imposed. But we need stability in policies, not last-minute decisions.
V
Vikram M
Interesting how US-China trade wars affect global markets. India should use this opportunity to strengthen its position in international trade. Make in India initiative needs more push!
K
Kavya N
The 90-day extension on China tariffs shows even superpowers need time to negotiate. Maybe India can learn from this - sometimes slow diplomacy works better than hasty decisions.

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