August 12, 2025
1 min read

Trump Rules Out Gold Tariffs, Delays China Deadline

Trump signed an executive order to extend the China tariff deadline by an additional 90 days….reports Asian Lite News

US President Donald Trump has said his administration will not impose tariffs on gold imports, an announcement following days of speculation that gold bars might be subject to country-specific duties.

Trump issued a terse statement in a social media post, after speculation arose over the possibility of gold tariffs after a recent ruling by U.S. Customs and Border Protection that 1-kilogram and 100-ounce gold bullion bars from Switzerland would face duties.

“Gold will not be Tariffed!,” Trump wrote on Truth Social, reports Yonhap news agency.

The two types of gold bars in question are used to back contracts on The Commodity Exchange, the key gold futures market, but they are also sold to jewellers or industrial consumers for manufacturing purposes.

On Friday, the Swiss Association of Manufacturers and Traders in Precious Metals issued a statement against potential U.S. gold tariffs, saying that new duties, if imposed, may “negatively impact the international flow of physical gold.”

Moreover, Trump signed an executive order to extend the China tariff deadline by an additional 90 days.

The order followed a non-committal answer by Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans.

The tariff truce between Washington and Beijing was scheduled to expire at 12:01 AM on August 12 (04:01 GMT), but the Trump administration had indicated the possibility of an extension, according to reports.

This extension of the deadline follows the recent round of trade negotiations between US and Chinese officials held last month in Stockholm.

Last week, US Commerce Secretary Howard Lutnick said Trump is likely to extend the tariff pause by another 90 days.

Previous Story

US Blacklists BLA, Majeed Brigade

Next Story

India, Singapore Set for 3rd Ministerial Talks

Latest from -Top News

Modi Ends China Trip, US Hails India Ties

US termed India-US ties as a “defining relationship of the 21st century”, stating that partnership between both countries continues to reach new heights….reports Asian Lite News Shortly after videos and images of

India Snubs China’s BRI Again

India has refused to support China’s BRI during the previous SCO Summits as well….reports Asian Lite News On Monday, India once again withheld its support for China’s controversial Belt and Road Initiative

SCO Slams Pahalgam Terror Attack

In the Tianjin Declaration, SCO leaders offered condolences to families of the terror attack victims….reports Asian Lite News Shanghai Cooperation Organisation (SCO) member states strongly condemned the April 22 Pahalgam terror attack,

Modi Targets Nations Backing Terror at SCO summit

The Prime Minister reiterated India’s consistent opposition to terror financing and any support to extremist groups….reports Asian Lite News With Pakistan’s Prime Minister Shehbaz Sharif present, Prime Minister Narendra Modi on Monday
Go toTop

Don't Miss

‘US-India partnership on steady trajectory, expanding in 2023’

The White House coordinator for Indo-Pacific affairs, Kurt Campbell, early

Big blow to Afghan students as US halts Fulbright program

While the program will continue for the more than 100