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Trump Extends Tariff Freeze on Chinese Goods, Exempts Gold from Duties
Trump Extends Tariff Freeze on Chinese Goods, Exempts Gold from Duties
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BTCCSquare news:
President TRUMP signed an executive order extending the suspension of U.S. tariffs on Chinese imports for an additional 90 days, averting a scheduled reversion to higher April rates. The decision follows bilateral trade talks in Stockholm and maintains the truce established during May negotiations in Geneva.
In a separate move, the administration overturned a proposed 39% tariff on Swiss gold bars used to back COMEX futures contracts. Gold prices retreated 2.48% to $3,404.70/oz following the exemption, which industry groups warned could have disrupted global bullion markets. The Swiss Precious Metal Association had cautioned about potential trade FLOW distortions from the initially proposed duties.
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