White House Plans Executive Order Clarifying Gold Bar Tariffs

President Donald Trump's administration sparked panic among traders when U.S. Customs and Border Protection ruled that one-kilogram and 100-ounce gold bars would be subject to high reciprocal tariffs, including a 39% duty on imports from Switzerland. This unexpected move sent gold futures to record highs, reflecting market turmoil and speculation about U.S. interest rate cuts. However, the White House quickly moved to calm concerns, announcing plans to issue an executive order to clarify misinformation about tariffs on gold bars and other specialty products, signaling that such gold imports should be exempt from these levies. The administration's reciprocal tariff policy, intended as leverage in trade negotiations, has faced criticism for causing economic disruption and raising legal questions about presidential authority to impose tariffs unilaterally. The forthcoming executive order aims to resolve the confusion and stabilize markets after the initial shock from the tariff announcement. This situation underscores the broader tensions and uncertainties around Trump's trade policies in 2025.