Trump Says Gold Will Be Exempt From Tariffs, Easing Market Jitters

The president’s announcement calmed investor fears after a U.S. Customs ruling put 1-kg and 100-oz bars in a tariff category, sending futures to record highs.

A gold dealer poses with three 1kg gold bullion bars in Birmingham, England, on Dec. 13, 2023. Christopher Furlong/Getty Images

President Donald Trump announced on Aug. 11 that gold would be exempt from tariffs, easing investor concerns over a potential sharp rise in import costs of the precious metal and sending prices lower.

“Gold will not be Tariffed!” Trump said in a social media post on Monday.