US President Donald Trump has ruled out imposing tariffs on gold imports, ending days of speculation over potential duties on bullion. The announcement came after concerns arose following a US Customs and Border Protection ruling that 1-kilogram and 100-ounce gold bars from Switzerland would face tariffs.

In a brief Truth Social post, Trump declared, “Gold will not be Tariffed!” The bars in question are commonly used to back contracts on The Commodity Exchange, the main US gold futures market, and are also sold to jewellers and industrial users.

The Swiss Association of Manufacturers and Traders in Precious Metals had warned last week that any new US tariffs could disrupt the international flow of physical gold.

Alongside his gold decision, Trump signed an executive order extending the current tariff moratorium on China by 90 days. The truce, which was set to expire at 12:01 a.m. on August 12, keeps US tariffs at 30 per cent and Chinese tariffs at 10 per cent.

The extension follows last month’s trade talks between US and Chinese officials in Stockholm, which did not result in a final agreement but kept negotiations alive. Trump recently urged Beijing to quadruple its purchases of US soybeans as part of ongoing discussions.

The decision to prolong the tariff pause comes after US Commerce Secretary Howard Lutnick indicated last week that Trump was likely to extend it. The current move gives both sides more time to negotiate before potential escalations later this year.