Monday, September 8, 2025

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Trump Exempts From Tariffs: Gold, Uranium, Tungsten, Graphite

  • Executive order effective September 8 exempts gold bullion, graphite, tungsten, and uranium while extending reciprocal tariffs to silicone products, resin, and aluminum hydroxide.

The Trump administration exempted graphite, tungsten, uranium, and gold bullion from US country-based reciprocal tariffs, while adding levies on silicone products—and extending those tariffs to resin and aluminum hydroxide.

The move, set to take effect today under an executive order, formalizes the planned bullion carve-out after a recent US Customs and Border Protection ruling sowed confusion by implying certain gold bars could face import taxes.

Procedurally, the measure empowers the US Trade Representative and the Commerce Department to implement “framework agreements” with partner countries—such as existing arrangements with the EU, Japan and South Korea—without requiring additional presidential executive orders. The order cites national security findings as the legal basis for modifying tariff coverage.

These carve-outs hit core inputs across energy, defense, and electronics: graphite dominates anodes in lithium-ion EV batteries and is used in refractories and thermal management, while tungsten (often as cemented carbides) is indispensable for cutting tools, drilling bits, aerospace components.

Beyond the named minerals, the directive is designed to speed bespoke deals that could allow tariff relief on aircraft parts, generic pharmaceuticals, and other goods that cannot be grown or produced domestically, while silicone-based products move into the tariff net.


Information for this story was found via Bloomberg and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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