Today, the United States Customs and Border Protection (CBP) published a ruling dated 31 July 2025 stating that the “applicable subheading for the Gold Kilo Bullion Bar and 100 Oz Bullion Bar will be 7108.13.5500, HTSUS”.
This development contrasts with the publicly stated intention by the U.S. Government in April 2025 to exempt bullion from reciprocal tariffs (Source: White House Fact Sheet, 2 April 2025, Executive Order 14257) with bullion under HTSUS 7108.12.10 included in Annex II to the Executive Order.
LBMA is liaising closely with Members, market infrastructure providers and authorities in the UK, Europe and USA to clarify the ruling’s application and alignment with previous public statements.
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If you experience or expect problems, please contact LBMA at ask@lbma.org.uk so we can help communicate these issues to others in the market.