President Trump announced Monday there would be no tariffs placed on gold imports, offering clarity after the gold market was in turmoil last week.

Trump made the announcement on Truth Social.

The White House last week said Trump would issue an executive order to clarify the administration’s policy on tariffs on gold bars following reports that Customs and Border Protection ruled 1-kilogram and 100-ounce bars should be classified with a certain customs code that would make them subject to tariffs.

Gold tariffs would have increased the cost of importing it into the United States, which could have upended supply chains and led to higher prices.

Trump has placed tariffs on other metals, including copper and steel and aluminum. He has also put tariffs on automobiles, as well as blanket tar

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