Gold bars to be exempt from tariffs, White House clarifies
Investing.com -- In an effort to mitigate potential damage inflicted by the White House's tariff policies, Trump administration officials are considering the establishment of a new exporter tax credit, according to a report from Bloomberg News, citing people familiar with the deliberations.
This rebate is aimed at bolstering US manufacturers and would be issued at the end of the year to counterbalance the impact of retaliatory tariffs as American firms attempt to sell their products in overseas markets.
The proposed tax credit, which would necessitate approval from Congress, could also extend to firms that export services abroad. However, the plan has yet to be formally presented to President Donald Trump or Treasury Secretary Scott Bessent, and it has already sparked division within the administration's economic team.
The level of support for the tax credit is currently uncertain. The suggestion of an exporter credit, which gained traction on Friday, indicates that some of the president's economic advisors harbor doubts about the effectiveness of his trade policies.
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