If you’ve been watching the gold market lately, you know things have been getting a little weird. For decades, importing investment-grade gold into the United States was basically a non-event. You brought it in, declared it, and as long as it wasn't from a sanctioned country like Iran or Russia, you didn't pay the government a dime in duties. That all changed in a heartbeat during the summer of 2025.
The chaos started when U.S. Customs and Border Protection (CBP) dropped a bombshell ruling that targeted the two most popular sizes for serious investors and institutions: the 1kg bar and the 100oz bar.
Suddenly, those sleek, stamped bars from Swiss giants like PAMP or Valcambi weren't just "unwrought bullion" anymore. CBP decided that because the bars were stamped with logos, serial numbers, and QR codes, they had been "further processed." This tiny technicality shifted them into a different category under the Harmonized Tariff Schedule (HTS). Instead of being duty-free, they were suddenly hit with a massive 39% tariff.
Honestly, the market lost its mind. Gold prices spiked. Swiss refineries literally stopped shipping to New York because they didn't know if they'd be hit with a $24 billion bill. It was a mess.
Why US Tariffs 1kg 100oz Gold Bars Became a Reality
To understand why this happened, you have to look at the "Reciprocal Tariff" policy that the Trump administration pushed through in early 2025. The idea was simple: if you tax our stuff, we tax yours. Switzerland has a massive trade surplus with the U.S., and gold is their biggest export. By reclassifying these specific bars, the U.S. found a way to apply leverage in trade negotiations.
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The 1kg bar is the "workhorse" of the COMEX exchange in New York. If you want to settle a futures contract with physical metal, you’re usually using kilos or 100oz bars. By slapping a tariff on these, the government wasn't just taxing a commodity; they were essentially taxing the "plumbing" of the global financial system.
It wasn't just about the money. It was about control.
The Great Reclassification of 2025
For years, gold bars entered under HTS code 7108.12.10, which covers "unwrought" gold. It’s a "Free" duty rate. Simple.
But then came Ruling N351466. CBP argued that 1kg and 100oz bars that are "stamped and needled or lasered with identifying information" belong under 7108.13.5500. While that specific code also lists a "Free" general rate, the catch was the new Executive Orders. Under the reciprocal trade rules, anything in that "semi-manufactured" category became subject to the additional 39% duty if it came from certain countries.
If you were a dealer holding a thousand kilo bars in a vault in Zurich, you suddenly found yourself $15 million poorer (on paper) if you tried to move them to the States.
The September 2025 "Gold Truce"
Markets hate uncertainty. By late August 2025, the London Bullion Market Association (LBMA) and major banks were screaming for a fix. The physical "spread"—the difference between gold in London and gold in New York—started blowing out because nobody wanted to ship metal across the Atlantic and risk a tariff trap.
On September 5, 2025, President Trump signed an Executive Order that basically fixed the problem he created. He exempted gold bars from "aligned partner" countries from these reciprocal tariffs.
Effective September 8, 2025, if your gold comes from a friendly trade partner, the rate is back to 0%.
But don't get too comfortable. This doesn't apply to everyone. If you’re trying to bring in 1kg bars from a country that isn't on that "aligned" list—or if trade relations sour again—that 39% ghost could come back to haunt the vaults.
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What This Means for Your Personal Stash
You might think, "I only buy 1oz coins, this doesn't affect me." You'd be wrong.
When the big 1kg and 100oz bars get hit with tariffs, the premiums on everything go up. Dealers have to cover their risks. If it's harder for the big guys to get metal, they start buying up the smaller stuff, which drives up the "spread" you pay over the spot price.
Here is the current reality of importing gold:
- Reporting is mandatory: If you’re physically carrying more than $10,000 in gold (which is only about 3 or 4 ounces these days), you have to file a FinCEN 105 form. It’s not a tax, but if you don't do it, they can seize the metal.
- The "Country of Origin" is king: It doesn't matter where you bought the bar; it matters where it was refined. A Swiss bar bought in Dubai is still a Swiss bar in the eyes of U.S. Customs.
- Purity still matters: To qualify for the most favorable codes, your bars need to be at least 99.5% pure. Most modern investment bars are 99.99%, so this is usually a non-issue.
Real-World Examples of the Tariff Impact
Let’s look at a hypothetical (but very realistic) scenario from the 2025 "scare" period.
Imagine a private investor in Miami who wanted to bring 10 kg of gold bars from a private vault in Switzerland to a domestic storage facility. In July 2025, that gold was worth roughly $850,000. Under the old rules, he pays shipping and insurance—maybe a few thousand dollars.
If he tried to do that in mid-August 2025, after the CBP ruling but before the September exemption, he would have faced a 39% tariff. That’s $331,500 in taxes just to move his own property across a border.
That is why the market froze.
Today, as of early 2026, the "aligned partner" exemption is holding steady. Most European, North American, and many Asian refineries are currently exempt. However, the paperwork has become much more rigorous. You can't just say "it's gold." You need the exact HTS code and proof of the refining location.
Actionable Steps for Gold Investors in 2026
If you are dealing with US tariffs 1kg 100oz gold bars, you need a checklist that actually works for the current regulatory environment.
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- Verify the Refinery: Before buying large-format bars, ensure the refinery is on the LBMA Good Delivery list and located in a country currently designated as an "aligned partner."
- Audit Your Documentation: Ensure your invoices clearly state the country of origin and the purity. "Swiss-made" is a legal designation that customs takes very seriously.
- Use a Specialized Broker: Do not try to DIY the import of 100oz bars. Use a customs broker who understands Chapter 71 of the HTS. One wrong code (like 7115 instead of 7108) can trigger an audit.
- Monitor the "Reciprocal" List: Trade policy in 2026 is fluid. What is exempt today might be taxed tomorrow if a trade war breaks out with a specific nation.
The era of "set it and forget it" gold importing is over. The 2025 tariff scare proved that even the most stable assets can become political footballs. Stay informed, keep your paperwork perfect, and always know exactly where your gold was born.
Next Steps for Compliance:
Review your current holdings for any bars refined in countries currently facing "Reciprocal Tariff" scrutiny. If you plan on moving large quantities (1kg+) into the U.S., secure a "Binding Ruling" from CBP ahead of time to lock in your classification and avoid the 39% surprise.