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US president Donald Trump has issued a new executive order exempting gold bullion, uranium, tungsten, graphite, and several other metals from global tariffs, effective Monday, Sept 8. The order also imposes new tariffs on silicone products, resin, and aluminum hydroxide.
The exemption is part of a revision to the scope of reciprocal tariffs and procedures for implementing trade and security agreements. The Commerce Department and US Trade Representative are now authorized to adjust tariffs as part of framework agreements with countries such as the European Union, Japan, and South Korea, without requiring additional executive orders.
The European Union welcomed the exemptions, noting that they could lead to lower US auto tariffs and improved access to key minerals.
“I welcome the US EO as a crucial step in implementing the EU-US Joint Statement. It paves the way for car and parts tariffs to drop to 15% and secures key exemptions from the 15% cap” — Maros Sefcovic, EU’s Commissioner for Trade and Economic Security
However, the legal status of some tariffs remains unresolved, as court challenges continue.
Gold bullion was previously subject to confusion after a US Customs ruling suggested it would face import taxes. The new directive clarifies that gold, along with uranium and tungsten, will be imported tariff-free. These metals are considered critical for sectors including nuclear energy, aerospace, and advanced manufacturing, and are not produced in sufficient quantities in the US.
The executive order aims to facilitate trade agreements and secure supply chains for minerals and products that cannot be grown, mined, or manufactured domestically. Pharmaceuticals and certain minerals used in electronics and medical devices will also see relief from tariffs.
The changes reflect ongoing efforts by the US government to address trade imbalances and strengthen domestic manufacturing while ensuring access to strategic resources.