Trump order 'clarifying misinformation' on gold bar tariffs expected soon [View all]

Source: The Hill

Trump order ‘clarifying misinformation’ on gold bar tariffs expected soon

by Alex Gangitano - 08/08/25 4:07 PM ET

President Trump is expected to issue an executive order soon to clarify the administration’s policy on tariffs on gold bars, a White House official said.

“The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products,” the official said.

The Financial Times first reported on the upcoming order, after reports that Customs and Border Protection (CBP) ruled 1-kilogram and 100-ounce bars should be classified with a certain customs code, which makes them subject to tariffs.

As a result of the unexpected ruling on the widely used gold bars, the gold market was in turmoil. Prices for gold futures jumped to record highs, The New York Times reported.

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Read more: https://finance.yahoo.com/news/trump-order-clarifying-misinformation-gold-200742160.html

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Trump slaps Switzerland, a major refiner of the world's gold, with swingeing tariffs. Turmoil follows.