Trump Extends U.S. Tariff Freeze on Chinese Goods—90 More Days of Trade Truce

Trade tensions take a breather as the White House hits pause—again.

The 90-day extension kicks the can down the road, giving markets temporary relief (and traders another excuse to ignore macro risks).

Wall Street shrugs—because nothing says 'stable economy' like depending on presidential whims and tariff Band-Aids.

Trump blocks tariffs on gold after customs ruling

On the same day, TRUMP announced that gold will not face any tariffs, overturning a recent decision by U.S. Customs and Border Protection.

The earlier ruling stated that 1-kilogram and 100-ounce Gold cast bars imported from Switzerland would be subject to 39% tariffs. These bars are used to back contracts traded on COMEX, the main U.S. futures exchange for gold, silver, and other metals.

Gold futures fell 2.48% to close at $3,404.70 per ounce after the announcement, coming down from a record high reached the previous Friday.

That spike followed the customs ruling, which would have also applied to any country exporting similar bars to the U.S., not just Switzerland.

The Swiss Precious Metal Association said the decision could have disrupted global gold trade flows, warning it “may negatively impact the international FLOW of physical gold.”

The customs ruling came under the umbrella of Trump’s August 7 “reciprocal tariffs” policy, which targeted dozens of U.S. trade partners. The tariffs were designed to match duties imposed on American exports, but the WHITE House move on Monday removed gold from the list entirely.

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