Trump orders 0% import tax on gold bars from Sept 8, boosting market activity
The White House updates its tax schedule, exempting gold bars from tariffs, a major relief for the precious metals market, starting September 8, 2025.
The White House has announced an update to its tax schedule, including a significant change that affects gold bars. This move has provided much-needed relief to players in the precious metals market.
The London Bullion Market Association (LBMA) issued a statement on Wednesday, calling it a “welcome development” after the market had previously faced uncertainty due to US Customs’ ruling on gold bar imports.
On September 5, US President Donald Trump signed an executive order to amend the tax schedule for various products, including gold bars. The White House described the move as a “reciprocal tariff.”
Under the new measure, gold bars imported from allied countries, classified under specific HS Code categories such as 7108.11.00, 7108.12.50, 7108.13.10, 7108.13.55, 7108.13.70, and 7108.20.00, will be completely exempt from tariffs—meaning no tax will be applied. This came into effect for all imports starting from September 8, 2025.
This change marks a positive signal for the gold industry. In August, the US Customs and Border Protection (CBP) website indicated that widely traded gold bars could be subject to tariffs based on the country of origin.
This uncertainty led some precious metals traders to delay shipments to the US, waiting for clearer guidance from the government. This concern added volatility to the gold market.
A few days later, on August 11, President Trump reassured the market via social media, saying that gold would not be taxed. Although he did not provide further details at the time, his statement helped relieve some market pressure, followed by the official executive order announcement.
The LBMA further clarified that it will continue to monitor developments and provide updates to its members. Discussions are also ongoing with stakeholders in the US, Europe, and the UK regarding potential future tax measures that may also apply to silver.
In addition to the US measures, the LBMA provided updates on the legal status of kilogram gold bars in the UK. The UK Health and Safety Executive (UK HSE) stated that if kilogram bars are imported as investment assets, they will be classified as “articles” and thus exempt from registration under the UK’s REACH regulations.
However, if the bars are intended for industrial use, such as jewellery production, they will still fall under the “chemical” category and must comply with registration requirements.
