WASHINGTON (Realist English). The White House plans to issue an executive order “clarifying” US policy on tariffs for gold bars, after a surprise customs ruling rattled the global bullion market and drove US gold futures to a record high.
The turmoil began when US Customs and Border Protection determined that one-kilogram and 100-ounce gold bars should be classified under a customs code subject to tariffs — contradicting long-held industry expectations that these products were exempt from President Donald Trump’s reciprocal trade levies.
The Financial Times reported on Thursday that the ruling applied to two of the most widely traded bullion formats. The decision appeared to conflict with an existing exemption for gold bullion under a separate customs code, adding to confusion among traders and refiners.
“The White House intends to issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products,” a White House official said on Friday.
Market participants are now awaiting the executive order for guidance on whether the tariffs will be reversed, upheld, or redefined — a decision that could have lasting effects on the flow of physical gold into the United States.
