Trump Confirms Gold Imports Will Stay Tariff-Free

President Donald Trump has announced that imports of gold will remain exempt from US tariffs, easing market concerns. His statement came after US Customs and Border Protection (CBP) shocked traders last week by declaring that 1kg and 100oz gold bars would be subject to his country-based tariffs, including a 39% duty on Swiss exports.

The ruling, issued in a letter to a Swiss refiner and later posted online, had contradicted long-standing market expectations that gold bars were exempt. Industry experts warned the move could disrupt global bullion flows and hinder US gold futures trading.

Gold futures on New York’s Comex and spot prices in London saw little immediate change after Trump’s clarification, although spot prices remained down more than 1.2% on the day. As of Monday afternoon, no updated policy had been officially released by US agencies.

Market disruption peaked on Aug. 8 when US gold futures hit record highs and shipments stalled. The White House later indicated it would issue an executive order to clarify “misinformation” regarding tariffs on gold and other specialty products.

The announcement is the latest development in a volatile year for gold, driven by strong central bank demand and heightened safe-haven buying amid Trump’s trade policies. Earlier this year, traders moved billions of dollars’ worth of gold and silver into the United States to take advantage of price premiums, but those flows stopped abruptly when both metals were officially exempted from tariffs in April.