The US government has placed tariffs on imports of one-kilogram gold bars, threatening to shake up the bullion market and dealing a blow to Swiss trade, the Financial Times has reported.
The industry had expected gold bars to be classified under customs codes exempt from President Donald Trump’s country tariffs. However, Customs Border Protection has placed one-kilo and 100-ounce gold bars under a code that is subject to the levies, the newspaper reported, citing a ruling letter dated July 31.
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