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Trump administration will not impose:
President Donald Trump said on Monday that gold would not be subject to new American customs duties. Meanwhile, after an official document sowed the disorder last week and propelled the precious metal to a record. Similarly, This surcharge would have endangered Swiss gold trade with the United States.
“A press release from Donald J. Furthermore, Trump, 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. Therefore, The price of gold had crossed a new record at the end of last week. Similarly, investors worrying about seeing certain ingots finally affected by the customs duties imposed by the American president.
According to trump administration will not impose new an update of American customs. detailed in a document dated trump administration will not impose July 31 but made public on Friday. the golden ingots of one kilogram and those of 100 ounces were classified as subject to customs duties, while investors thought they were exempt.
Threatened Swiss refineries
This would have strongly impacted Switzerland which exports many gold ingots in the United States. In a “Ruling Letter” of July 31. the American customs authorities would have informed Swiss refiners that one kilogram ingots. 100 ounce bars were to be imported with a surcharge of 39%.
The high customs duty to import gold bruises would have broken the neck of Swiss gold trade with the United. States. According to experts. the gold trade has inflated the excess of the Swiss trade balance with the United States. which amounted to 24 billion francs in the first half if the gold was excluded.
trump administration will not impose new
With customs duties. the export of gold foundry products to the United States trump administration will not impose would no longer be profitable for Swiss refineries. said last week Christoph Wild, president of the Swiss association of manufacturers and traders of precious metals (ASFCMP).
The White House later said it was planning to “publish a decree in the near future to clarify erroneous information. concerning the taxation of gold bars. other specialized products”, according to the declarations of an AFP official. However, the latter had not said if it implied that the ingots were going to remain exempt.
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Trump administration will not impose new
Trump administration will not impose
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