There will be no tariffs on gold
No Tariffs On Gold : Trump’s tariff decision is being discussed all over the world. Now he has made a big announcement regarding gold. Last week, US customs officials also issued a letter, which said that gold should be within the tariff range of twelve…
US President Donald Trump has made a big announcement. According to a report in The Wall Street Journal, Trump has said that there will be no tariff on gold. Earlier, the Customs and Border Protection Department had said that a heavy tax could be imposed on gold. But Trump has clarified the position on this. Trump made this announcement at a time when his tensions with India and Russia are rising. Trump has imposed a 50 percent tariff on India.
Trump shared a post on social media platform Truth. In which he informed about not imposing a tariff on gold. There was a rumor in the market about gold that a heavy tariff would be imposed on it, after which there was a huge increase in the price of gold, but now Trump has given a reassuring news.
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Last week, US customs officials also issued a letter stating that two standard weights (one kilogram and 100 ounces) of gold bars should be kept within the tariff range. Following this letter, there were concerns among gold traders and investors that this would affect the international gold market.
After this clear statement by Trump, the situation has now become clear and traders involved in gold trading have gained confidence. Experts believe that this move will maintain stability in the price of gold and its global trade.
Trump is unhappy with India and has imposed a 50 percent tariff. Trump is upset with India buying oil from Russia. He has said that Russia is working to promote war. Trump is also upset with the trade deal with India. For this reason, initially a 25 percent tariff was imposed on India. Now it has been increased to 50 percent.
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