Tariffs on PM's imported into the U.S.
I was reading and happened to run across this article at Kitco. A couple of random quotes:
• “We actually did that, because nobody wants to bring in millions and millions of dollars, and then later they say, ‘Oops, you owe us, and let's go back three years.’ Nobody wants to do that.”
• “In precious metals we're working off of sometimes sub-1% spreads, a tiny spread, so you would get destroyed.”
• “It looks like we've got some clarity on a piece of it, but a lot of people are waiting to know everything,” he said. “What nobody wants is to bring in a $10 million shipment of something and get slapped with $1 million-plus in taxes. It feels like the whole world is waiting for clarity.”
There's quite a bit of uncertainty at the moment. It appears that the new tariffs will affect most scrap metals ... not just PM's. It's likely we will see higher prices paid at the yard here in the U.S. as we will be importing less metal from other countries.
Anyhow ... it seems complicated but the article is worth a read if you have a few minutes.
https://www.kitco.com/news/article/2...silver-imports
