President Donald Trump in the White House. Photo: CNP / Admedia / SIPA Press / Profimedia
US President Donald Trump announced on Monday that gold will not be subject to new US customs duties, after an official document generated confusion last week and has taken the price of precious metal at a record level, AFP reports.
“A statement by Donald J. Trump, the president of the United States of America: gold will not be subject to customs taxes!”, Wrote the leader from the White House on the SA TRUTH Social Platform.
The price of gold has reached a new record at the end of last week, investors being worried that the ingots will eventually be affected by the customs duties imposed by the US president.
The price of gold, a new historical record. Trump's taxes risk provoking an earthquake on the precious metal market
According to an update of the American customs authorities, detailed in a document dated July 31, but made public on Friday, the one-kilogram gold bullion and 100 ounces (2.83 kg) were ranked to be subject to customs duties, while investors believed to be exempted.
The White House later announced that it intends to “publish in the near future a decree to clarify the erroneous information on the taxation of gold bullion and other specialized products”, according to the statements of an official for AFP.
However, the cited official did not specify whether this means that the ingots will remain exempt from taxes.
