UBS On-Air: Market Moves UBS On-Air: Paul Donovan Daily Audio 'A chaotic trade tax process'
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Aug 11, 2025 The latest discussion dives into the U.S. administration's promise to clarify trade tax misinformation on gold, which could affect buyers significantly. There's a spotlight on how this chaotic tax process might signal deeper issues in policy planning. Investors are left speculating whether upcoming clarifications will lead to a change in the current ruling. Additionally, the episode touches on how these developments relate to inflation, trade relations with South Korea and China, and the importance of upcoming consumer price data.
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Administration To Clarify Gold Trade Tax Claims
- The US administration promised to clarify 'misinformation' about trade taxes on gold imports.
- Investors read that as a likely retreat from the customs ruling.
Oval Office Gold Could Have Been Taxed
- Customs ruling applied to gold imported since 9 April, potentially including the Oval Office's gold.
- That example highlights the odd reach of the ruling into symbolic items.
Clarify Whether Taxes Were Ever Charged
- The clarification must state the ruling was an error and that taxes never applied.
- Clear repudiation would calm hedging and investor reactions.