(Washington, 11th – Comprehensive Report) U.S. President Trump stated on the 11th that gold will not be subjected to tariffs.
He said on social media platform 'Truth Social': 'Gold will not be taxed with tariffs!'
However, Trump did not provide further details.
Following this announcement, the price of gold futures on the New York Mercantile Exchange dropped by more than 2% that day.
At the end of last month, the U.S. Customs and Border Protection agency stated in a public letter that 1-kilogram and 100-ounce gold bars should be classified as goods subject to tariffs. Concerns that gold futures deliveries might be affected had previously driven up gold futures prices, with prices reaching all-time highs.
Nvidia Chip Sales to China Confirmed, 15% Revenue to be Paid
Additionally, Trump confirmed at the White House that Nvidia will hand over 15% of the revenue from certain AI chips sold to China to the U.S. government.
The H20 chip had previously been targeted by U.S. export controls.
Trump told media that he agreed to let Nvidia pay 15% of its H20 chip sales revenue in order to have the restrictions lifted.
He said: 'If I'm going to do this, I want you to give something back to our country, because I'm granting you an exemption, and I am only lifting the restriction specifically for the H20.'
He argued that Nvidia's H20 chip is 'an old chip.'
However, Trump did not provide further details.
Following this announcement, the price of gold futures on the New York Mercantile Exchange dropped by more than 2% that day.
At the end of last month, the U.S. Customs and Border Protection agency stated in a public letter that 1-kilogram and 100-ounce gold bars should be classified as goods subject to tariffs. Concerns that gold futures deliveries might be affected had previously driven up gold futures prices, with prices reaching all-time highs.
Nvidia Chip Sales to China Confirmed, 15% Revenue to be Paid
Additionally, Trump confirmed at the White House that Nvidia will hand over 15% of the revenue from certain AI chips sold to China to the U.S. government.
The H20 chip had previously been targeted by U.S. export controls.
Trump told media that he agreed to let Nvidia pay 15% of its H20 chip sales revenue in order to have the restrictions lifted.
He said: 'If I'm going to do this, I want you to give something back to our country, because I'm granting you an exemption, and I am only lifting the restriction specifically for the H20.'
He argued that Nvidia's H20 chip is 'an old chip.'