In a post on his platform ‘Truth Social’, Trump stated: ‘There will be no tariffs on gold,’ without providing further details. Trump’s announcement follows a statement from US Customs indicating that ‘100 ounces (2.8 kilograms) will be subject to tariffs.’ Last Thursday, US President Donald Trump announced the implementation of reciprocal tariffs, amid several countries’ diplomatic efforts to seek exemptions from these tariffs and the consequences of Washington’s strict trade policies.
Goods from 39 countries, in addition to European Union members, are subject to a 15% tariff, according to a list published by the White House last week. Exemptions also included energy sectors, gold bullion, and some basic metals, while other imports such as steel, aluminum, pharmaceuticals, and copper were excluded from the new tariffs, being subject to different tariff orders.
