Jakarta, cartitleloans Indonesia
–
US President
Donald Trump
say import
gold
will not be charged additional rates.This was conveyed a few days after the confusion of rising tariffs on certain gold bars that had the potential to disturb global trade.
Trump’s comments emerged after the US Customs Authority published a letter stating that gold bars with two standard weights, namely one kilogram and 100 ounces (2.8 kilograms), must be classified as goods affected by import duties.
“Gold will not be charged!”Trump said on his Truth Social platform, as quoted by AFP, without giving further details.
The letter, published last week and dated July 31, was first reported by the Financial Times.The publication caused the price of gold in the US futures market to reach the highest record.
However, a White House official told AFP on Friday (8/8) that the Trump government planned to “issue executive orders in the near future to clarify wrong information about gold bars and other special products.”
[Gambas: cartitleloans video]
On the same day, gold for December delivery reached the highest record in Comex, the largest futures market in the world.
The point of concern for the possibility of gold products will be released from Trump’s “reciprocal” tariff which has an impact on goods from dozens of countries, including Switzerland, which imposed a tariff of 39 percent.
A gold bar weighing one kilogram is the most commonly traded form in Comex and covers most of the gold exports of Swiss bars to the US, according to FT.
The US Customs Decree was surprising amid expectations that gold bars would be classified under a different customs code that would free them from Trump’s levies throughout the country.
Even though the US Customs Decree is usually used to clarify trade policies.
Gold, which is seen as an investment of Safe Haven, has reached the highest record this year amid fear of tariffs and geopolitical turmoil.
(AFP/CHRI)
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