Gold Exempted from Tariff List US President Donald Trump had ordered to impose 50% tariff on many countries including India and Brazil, due to which there was suspense on gold imports. Now Trump has clarified that gold will be kept out of the tariff war. He has given information about this by posting on social media. Now there will be no tariff on gold.
US President Donald Trump had ordered to impose 50 percent tariff on many countries including India and Brazil last week. There was suspense on gold imports since Trump's order. At the same time, Trump has made it clear that gold will be kept out of the tariff war.
US President Donald Trump shared a post on the social media platform Truth saying that there will be no tariff on gold.
Tariff on gold was anticipated
For the last one week, speculations were being made whether tariff would be imposed on gold or not. The Customs and Border Security Department had also expressed apprehension of heavy tariff on gold. Due to rumors of 50 percent tariff on gold, its prices were seeing a huge jump.
However, Trump himself has put an end to all the rumours by sharing the post. Trump wrote in his post, "There will be no tariff on gold." Trump did not share any other information. After this post of Trump, the price of gold may come down.
Let us tell you that Trump has imposed a tariff of 50 percent on many countries including India, citing the purchase of oil from Russia. Amid the tension with many countries like India, Russia and Brazil, Trump has given news of relief.
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