The president’s announcement calmed investor fears after a U.S. Customs ruling put 1-kg and 100-oz bars in a tariff category, sending futures to record highs.
A gold dealer poses with three 1kg gold bullion bars in Birmingham, England, on Dec. 13, 2023. Christopher Furlong/Getty Images
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President Donald Trump announced on Aug. 11 that gold would be exempt from tariffs, easing investor concerns over a potential sharp rise in import costs of the precious metal and sending prices lower.
“Gold will not be Tariffed!” Trump said in a social media post on Monday.
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
