The U.S. Consumer Protection and Border Protection Agency has issued an important ruling, clarifying that gold bars weighing over 1 kilogram and 100 ounces will not be exempt from taxes. Once tariffs are imposed, they could be as high as 39%.
As soon as the news was announced, it led to a rise in gold prices. However, according to the Financial Times, the White House is actively responding to clarify its position on the taxation of gold bars to avoid misleading market sentiment.
The imposition of tariffs on gold primarily targets Switzerland. Currently, under Trump's tariff policy, a 39% import tariff is imposed on Switzerland, which is the largest producer of gold bars globally.
Let's wait for the White House to confirm the final news; they are currently preparing a response.
August 8 Crypto Comprehensive Daily Report
Introduction:
Tariffs and geopolitics remain the main themes in the market. Whether the China-U.S. trade negotiations can ultimately complete the "90-day pause" will be a key focus this weekend, with risk markets remaining cautiously optimistic for now.
New Federal Reserve board member nominations are pending Senate confirmation. Can the interim board member lock in the interest rate path for 2025?
#Bitcoin's volatility range is narrowing, facing a critical decision period in the short term: will it break out and continue the rebound, or will it fall and initiate a third wave?
7.12K
2
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.