President Trump explains that gold will not be defined amid rumors that may be

After the Trump administration indicated that the new executive matter may be imminent that would clarify the United States’ position on whether it should face the imports of gold tariffs, the president himself took the issue in his hands with a announcement on Monday that gold will not be targeted. “

It follows the Trump advertisement a to rule Through the customs site and the boundaries of the American border, which said that gold will be subject to Mutual definitions After a valuable mineral broker, based in Switzerland, requested an explanation on this topic. The referee said that the rate of 39 % will be imposed on one kilogram and 100 ounces of gold imported from Switzerland.

Reports that the Trump administration will put a tariff on American gold imports that have been criticized as “wrong information” by the White House, which was repeated on Monday that it intends to “issue an executive in the near future that clarifies the wrong information about the tariff of gold bars and other specialized products.”

Trump calls the sudden tariff “very beautiful to see” as it sailed critical in

While the contents of the executive order are unknown, Trump’s announcement said explicitly, “Gold will not be targeted!” With the presentation of the post as “a statement from Donald Trump, President of the United States of America. ”

Possible definition news late last week Causing the price of gold, But after the White House responses indicate that this will not be, they started to decline.

“In the early hours of trading (Friday), global markets were shaken by announcing the Trump administration with a tariff of 39 % on imported gold bars that weigh 100 ounces or more. Gold futures in December reached the rise of $ 3,534.10 an ounce after a short period of reporting,” American Institute for the future of the economy. send The gold work committee has to combat confidence.

The budget deficit in the United States expanded by 109 billion dollars from last year despite the flow of customs tariffs

“This sudden step injects uncertainty in the alloys market, anxiety dealers, refining refineries, and institutional investors who trade in larger formats” the stock exchange delivery. ”

“Although gold rarely aims to protect protection measures – unlike basic minerals, agriculture or manufactured goods – this decision gives close attention, both. Market impact Possible effects on future monetary policy. “

Get Fox Business on the Go by clicking here