U.S. President Donald Trump has announced that gold will not be subject to the new American customs duties, after an official document caused confusion last week and propelled the precious metal to a record level.
„A statement released by Donald J. Trump, the President of the United States of America: Gold will not be subject to customs duties!” the head of state wrote on his Truth Social platform, as reported by AFP.
Gold prices reached a new record level at the end of last week, with investors concerned that some gold bars will eventually be affected by the tariffs imposed by the American president.
According to an update from U.S. customs, detailed in a document dated July 31 but made public on Friday, one-kilogram gold bars and 100-ounce gold bars were classified as subject to customs duties, while investors believed they were exempt.
The White House later announced that it intends to "issue a decree in the near future to clarify the erroneous information regarding the taxation of gold bars and other specialized products," an official told AFP.