Trump removes tariffs on key metals, targets silicone instead

Trump issued a new executive order Friday, removing import tariffs on gold bullion, graphite, tungsten, uranium, and other critical metals, while slapping silicone products with new ￰0￱ directive takes effect Monday, and it follows recommendations from ￰1￱ and is tied to the ongoing “national emergency” Trump declared when he first triggered his broad country-level tariff agenda in ￰2￱ change comes after a ruling by ￰3￱ and Border Protection caused a wave of panic among gold traders by indicating bullion would be ￰4￱ triggered confusion across the commodities markets. Trump’s decision also makes it easier for Washington to carry out new trade frameworks with other ￰5￱ include deals Trump signed with the European Union, Japan, and South Korea, which now no longer need individual executive orders to go ￰6￱ removes tariffs on key metals, targets silicone instead The metals being dropped from tariff lists are all used in tech, energy, and defense supply ￰7￱ is crucial for industrial tools and military ￰8￱ is central to electric batteries and aerospace ￰9￱ fuels nuclear reactors.

Gold, despite being seen mostly as a reserve asset, plays a role in electronics and is a major safe haven for ￰10￱ White House order says removing these tariffs is necessary to support ￰11￱ and protect supply ￰12￱ while Trump is giving relief to those materials, he’s also turning up the heat on other ￰13￱ products, as well as resin and aluminum hydroxide, are now subject to new reciprocal ￰14￱ materials are more widely available and are not seen as vital to national ￰15￱ hitting them, Trump aims to increase leverage in trade talks without choking essential supply ￰16￱ new policy also opens the door to exempt other goods the U. S. can’t produce, mine, or ￰17￱ includes specific aircraft parts, generic pharmaceuticals, specialty spices, coffee, and rare ￰18￱ the updated procedure, the ￰19￱ Representative and the Commerce Department will now have power to roll out trade agreements without waiting for direct orders from ￰20￱ pharmaceuticals are also getting ￰21￱ like pseudoephedrine, antibiotics, and other medicines that were caught in a separate trade investigation by Commerce are now being pulled out of the tariff ￰22￱ jumps after ruling reversal, market bets on rate cuts Gold prices shot up ￰23￱ gold climbed 1.4% to $3,596.55 per ounce by Friday afternoon, after reaching a record high of $3,599.89 earlier in the ￰24￱ futures for December closed 1.3% higher at $3,653.30.

The metal has already surged 37% this year, building on a 27% gain in ￰25￱ rally is being driven by a weaker dollar, central bank purchases, lower interest rates, and widespread market uncertainty. “Gold makes new highs; bulls are looking at the clearly weakening trend of employment translating into multiple rate cuts,” said Tai Wong, an independent metals trader. “The outlook is undoubtedly bullish for gold as labour concerns override inflation for the short, probably medium term,” he added, but warned that prices are still “too far away from 4,000 unless there is a massive dislocation.” The ￰26￱ market is showing signs of ￰27￱ job growth slowed sharply, and the unemployment rate rose to 4.3%.

Markets are now expecting a 90% chance of a 25-basis-point rate cut this month and a 10% chance of a 50-basis-point cut. Gold, which doesn’t earn interest, tends to attract more investors when rates are falling and global risks are high. Trump’s ongoing pressure on the Federal Reserve is adding to the ￰28￱ recently tried to fire Fed Governor Lisa Cook, which raised alarms about the Fed’s ￰29￱ say this kind of interference could push the central bank further toward ￰30￱ with all the excitement in the market, China and India, the biggest gold buyers, are pulling ￰31￱ for physical gold dropped this week because of the sky-high prices. Meanwhile, gold reserve data from China’s central bank is due ￰32￱ it won’t reflect September’s price surge, but traders are watching it closely to see if central bank demand has started to ￰33￱ Difference Wire helps crypto brands break through and dominate headlines fast