U.S. President Trump has excluded graphite, tungsten, uranium, gold bars, and other metals from the U.S. import tariffs targeting certain countries, while imposing tariffs on silicone products.
According to Bloomberg, an executive order released by the U.S. government on the 5th states that this tariff adjustment will take effect on the 8th.
This executive order may help accelerate the implementation of “tailor-made” trade agreements between the United States and other countries, making it easier for Washington to remove tariffs on items such as aircraft parts, generic drugs, and certain products that cannot be cultivated, mined, or naturally produced in the U.S., such as specialty spices, coffee, and some lesser-known metals.
These changes were made based on recommendations from U.S. officials.
The new measure also formally establishes the tariff exemption for gold bars. Several weeks ago, the U.S. Customs and Border Protection had ruled gold bars were subject to import duties, stunning traders and causing confusion.
This executive order may help accelerate the implementation of “tailor-made” trade agreements between the United States and other countries, making it easier for Washington to remove tariffs on items such as aircraft parts, generic drugs, and certain products that cannot be cultivated, mined, or naturally produced in the U.S., such as specialty spices, coffee, and some lesser-known metals.
These changes were made based on recommendations from U.S. officials.
The new measure also formally establishes the tariff exemption for gold bars. Several weeks ago, the U.S. Customs and Border Protection had ruled gold bars were subject to import duties, stunning traders and causing confusion.