AsianFin -- A recent decision by the U.S. to impose tariffs on imports of one-kilogram and 100-ounce gold bars is sparking fresh disruption in the global bullion market and threatens to upend trade flows from Switzerland and other major refining centers.
According to sources familiar with the matter who requested anonymity, U.S. Customs and Border Protection has confirmed that these gold bars will be subject to tariffs, contrary to earlier industry expectations of exemption. This development was initially reported by the Financial Times.
Following the announcement, gold futures in New York surged to record highs as traders, analysts, and industry leaders scrambled to assess the impact. The tariff move could significantly disrupt global trade routes from key hubs including Switzerland, London, and Hong Kong. Notably, Switzerland’s gold exports have become a contentious issue in trade talks with the U.S., after a surge in shipments earlier this year contributed to a widening U.S. trade deficit with the country.
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