President Donald Trump clarifies that gold imports will not be tariffed in new Truth Social announcement, following uncertainty over the matter stemming from U.S. Customs ruling.

Some of the most widely used types of gold bars would be subject to U.S. tariffs, customs agency officials ruled, a particular blow to Switzerland’s large gold refining industry.

A Trump administration ruling that gold bars will be subject to tariffs stunned traders who had assumed they would be exempted, throwing bullion markets into turmoil.