Newyork: U.S. President Donald Trump has put an end to uncertainty in international trade circles by clearly declaring that there will be no tariffs on gold imports.
Trump made this announcement via his social media platform “Truth Social,” posting a clear message that said, “No tariffs on gold.”
This statement has brought some stability to the gold market, which had been clouded by speculation over the past few days.
Recently, there were reports that the United States might impose tariffs on gold bars imported from Switzerland.
These bars, especially 1-kilogram and 100-ounce ones, are widely used in commodity exchanges, jewelry manufacturing, and various industries.
Experts had warned that such tariffs could increase prices and disrupt supply.
The Swiss Manufacturers Association also expressed similar concerns.
Against this backdrop, Trump intervened directly, offering clarity and relief to market players.
At the same time, he made another key decision regarding trade relations with China extending the existing tariffs on Chinese products for another 90 days.
This deadline was otherwise set to expire soon.
The impact of Trump’s decisions on the gold and trade sectors has been immediate, with investors and importers welcoming these moves positively.