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

Piyush Goyal in US for Trade Talks

Goyal’s trip to the US capital follows the visit of the US team of officials to Delhi on September 16….reports Asian Lite News Union Minister for Commerce and Industry Piyush Goyal was

Islamabad’s Costly CPEC Gamble

Pakistan owes over $7.5B for power plants and nearly $2B in unpaid bills to Chinese energy firms, the article notes. The China-Pakistan Economic Corridor (CPEC), once hailed by Islamabad as a game-changing

Jaishankar, Rubio Meet Amid H-1B Row

This marks the third in-person meeting between Jaishankar and Rubio this year. …reports Asian Lite News External Affairs Minister (EAM) S. Jaishankar will meet US Secretary of State Marco Rubio in New

Jaishankar, Philippines FM Hold Talks in US

Both leaders discussed cooperation between India and the Philippines in the UN and the Indo-Pacific region…reports Asian Lite News External Affairs Minister (EAM) S. Jaishankar met the Philippines Foreign Secretary Theresa Lazaro

India-UAE trade rockets 34%

India-UAE CEPA delivers record trade growth, expands into AI, sustainability, and space, with UIBC-UC’s new study mapping a blueprint for global innovation-led collaboration. The UAE-India Business Council – UAE Chapter (UIBC-UC) has
Go toTop

Don't Miss

Will 2 Indian-origin women be running for Prez?

So far Biden has said that he is in for

US to help India in facilitating funds for energy transition

The two leaders acknowledged the developed countries’ goal to jointly