EL7.AI
ForexMediumUpdated×3•Originally published 21 August 2026•Updated 22 August 2026•
1 min read

Trump Reverses Beef Tariffs as Gold Surges to Record Highs Above $4600

Donald Trump holds a lever opening gates to cattle, meat, and gold bars with upward arrows on an orange background.

Key Facts

1President Trump announced allowing 300,000 metric tons of additional beef imports from Brazil without out-of-quota tariffs to lower prices.
2Gold prices rose by $84.21 to reach $4602.66 per ounce, benefiting from a weaker US dollar.
3The US Treasury doubled the size of long-term bond buybacks to at least $4 billion per operation.

In a move reflecting the U.S. administration's efforts to combat food inflation, President Trump announced a reversal of tariffs on beef imports from Brazil. According to reports, the administration will allow 300,000 additional metric tons of beef without out-of-quota tariffs to lower domestic prices, while gold prices surged by $84.21 to reach a record $4602.66 per ounce. Additionally, the US Treasury doubled its long-term bond buyback operations to at least $4 billion per operation.

These shifts occur amid significant selling pressure on the US dollar, driving precious metals to record highs. Alongside these fiscal policies, market data indicated a weaker dollar against major peers, while hedging assets like gold and Bitcoin benefited from the expanded bond buyback program initiated by Treasury Secretary Scott Bessent.

As of the close on August 21, 2026, traders are monitoring the impact of these policy shifts on future inflation expectations.