US tariff exemptions on gold, tungsten and uranium take effect

Starting today, key minerals including gold bullion, graphite, tungsten and uranium are officially exempt from US global tariffs under an executive order signed late last week by President Donald Trump. The order also imposes new levies on certain silicone products, resin, and aluminum hydroxide, while streamlining the process for future tariff exemptions tied to trade agreements. Under the new framework, the US Trade Representative and the Commerce Department will now be empowered to implement tariff adjustments embedded in agreements with countries such as the European Union, Japan, and South Korea—removing the need for the president to personally issue additional executive orders each time.Fragile supply chainThe United States has not mined tungsten domestically since 2015, and more than 80% of global supply comes from China. Uranium and natural graphite are likewise heavily import-dependent, with limited or no domestic output. “When you picture an American jet fighter on a critical mission or the latest electric vehicle rolling off a factory line, you may not realize that several of the key materials driving these technologies, including tungsten, come from halfway across the world,” said Brodie Sutherland, CEO of Patriot Critical Minerals Corp in a recent article.“Although tungsten is a critical mineral prized for its unmatched density, high melting point and hardness, the US has gone more than ten years without producing a single ounce domestically, relying instead on foreign suppliers to fuel innovation.”Lewis Black, founder and CEO of Almonty Industries, the largest tungsten mining and processing company outside China, echoed the concern. “Tungsten is a key component in almost the entire US industrial, technology and defense base. The President has once again shown that these tariffs are to benefit American industry and not just ideological whims. The White House recognizes the fragility of the tungsten supply chain, especially now that the Department of Defense has tungsten in its highest supply-risk tier.”Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com