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US Sparks Fresh Turmoil in Gold With Surprise Import Duty
Business Standard
|August 09, 2025
A US move to put tariffs on imports of gold bars is unleashing fresh turmoil in the bullion market, with prices spiking in New York as dealers brace for a major reordering of global trade flows.
US Customs and Border Protection has clarified that one-kilogram and 100-ounce gold bars are subject to reciprocal tariffs enacted by President Donald Trump, and are not exempted as the industry had initially understood, according to a letter from the agency seen by Bloomberg. The ruling was first reported by the Financial Times.
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