Gold prices rose to a record high on news that the US would impose tariffs on 1-kilogram gold bars imported from Switzerland. During Friday trading on the Comex exchange, December futures for the precious metal reached $3,534.1 per ounce, a historic high. They are currently trading at $3,484.5 per ounce, up 0.9% from the previous close.
The US Customs and Border Protection agency said that gold bars weighing 1 kg and 100 ounces (2.8 kg) should be classified under a customs code that is subject to import duties, according to a July 31 ruling seen by the Financial Times.
The customs decision came as a surprise to the industry. Experts had assumed that these types of gold bars would be classified under a different customs code that would not be subject to the new duties imposed by US President Donald Trump.
Kilogram bars are the most common form of trade on Comex, the world’s largest gold futures market, and account for the bulk of gold bar exports from Switzerland to the US.
Relations between Washington and Bern deteriorated after the US announced last week that it would impose 39% import duties on products from that country. According to customs data, gold is one of Switzerland’s main exports to the US.
“The prevailing opinion was that precious metals remelted by Swiss refineries and exported to the US could be shipped without paying duties,” said Christoph Wild, president of the Swiss Precious Metals Association. The decision to impose the duty is “another blow” to gold trading between Switzerland and the US, he believes.
Imports of goods from Ukraine in January-July 2025 amounted to $45.9 billion in monetary terms, which is 17.4% more than in the same period of 2024, while exports grew by 2.7% from $22.6 billion to $23.2 billion, according to the State Customs Service (SCS).
“At the same time, taxable imports amounted to $34.7 billion, which is 76% of the total volume of imported goods. The tax burden per 1 kg of taxable imports in January-July 2025 was $0.52/kg,” according to a publication on the agency’s Telegram channel on Thursday.
Traditionally, the largest importers of goods to Ukraine were China ($9.9 billion), Poland ($4.4 billion), and Germany ($3.7 billion).
The largest exporters from Ukraine were Poland ($2.9 billion), Turkey ($1.9 billion), and Italy ($1.3 billion).
It is noted that in the total volume of goods imported in January-July 2025, 68% were machinery, equipment, and transport – $18 billion (during customs clearance, 112.7 billion hryvnia, or 29% of customs payments, were paid to the budget), chemical industry products – $7.3 billion (57 billion hryvnia, or 15%), fuel and energy – $5.9 billion (105.5 billion hryvnia, or 27%).
The top three most exported goods also remain unchanged: food products ($13 billion), metals and metal products ($2.6 billion), machinery, equipment, and transport ($2.2 billion).
During the seven months of customs clearance of goods subject to export duties, UAH 159.1 million was paid to the budget.
Yurmash (Kyiv), a company with foreign investment whose main specialization is the supply of foreign construction and road equipment, may supply five Euromash intercity buses (three of which are upgraded) to NAEK Energoatom for UAH 22.91 million, with an expected value of UAH 24.37 million.
According to a report in Prozorro, the company was the only participant in the tender for the purchase of buses, although the customer specified AR-TEMSA PRESTIJ SX buses (or equivalent) as the subject of the purchase.
Auto-Region, the exclusive distributor of Turkish Temsa buses in Ukraine, did not participate in the tender.
According to the documents provided, the Euromash B AC 6768 bus with improved equipment is 7.5 m long, designed for 29+1 seats with seat belts and a seat reclining system, equipped with a 2.97 L Euro 6 diesel engine.
In particular, the bus has an autonomous heater, air conditioning with individual deflectors for each row of seats on both sides.
Additional options, unlike the standard configuration, include USB sockets in the backrests of the front row seats, a microphone, an LSD TV, and a rear view camera.
A letter signed by the company’s CEO states that “the company will use only its own production facilities to manufacture the product,” while the localization certificate states that “the degree of localization is equal to or exceeds the degree of localization for the corresponding year” (in 2025, the law requires 25% localization), but the specific degree is not specified.
The company’s website and open sources do not provide information on the components used in Euromash buses.
Previously, the company offered Euromash (Dongfeng) pickups in tenders. The company is the official dealer of the Chinese Dongfeng in Ukraine.
The company’s website states that it was established in 2004 and is one of Ukraine’s leaders in the import, warranty, and post-warranty service of imported road construction and quarry equipment.
The company is the exclusive dealer of Hitachi construction equipment and an official dealer of BELL, Terex Finlay, Ammann, Furukawa, and Sullair.
According to opendatabot, the ultimate beneficiary of LLC with II “Yurmash” is entrepreneur Anna Pokotilova.
The company’s net income in 2024 increased 1.9 times compared to 2023, to UAH 507.6 million, with a net profit of UAH 3.6 million compared to UAH 0.9 million a year earlier. Before the war in 2021, the company’s revenue amounted to UAH 1.2 billion, and the number of employees was 457, compared to 162 the previous year.
The Antimonopoly Committee of Ukraine (AMCU) found LLC “Marxoll” (formerly LLC “Dryada Zakhid”) and LLC “Ligna Ukraine” guilty of collusion during their participation in two tenders for the purchase of plastic cassettes (with an estimated value of UAH 34,470,680.00) and the purchase of tags for marking timber (with an estimated value of UAH 26,534,070.00) held by the state-owned enterprise Lesa Ukrainy in 2023 and 2024, the press service of the agency reported.
The committee established circumstances which, taken together, indicate that the companies engaged in anti-competitive concerted actions with the aim of eliminating competition between them during their participation in the aforementioned tenders. The facts revealed showed joint and coordinated behavior by the companies in preparing for and participating in the tenders, as well as communication between them and the exchange of information, the statement said.
The AMCU recognized the actions of Markosoll LLC and Ligna Ukraine LLC as a violation of competition law under paragraph 4 of part 2 of Article 6, and Article 50(1) of the Law “On Protection of Economic Competition,” which led to a distortion of the tender results, and fined them a total of UAH 5,495,260.
The agency recalled that, according to the Law “On Public Procurement,” the basis for refusing to participate in a procurement procedure is the fact that a business entity (participant) has been held liable within the last three years for committing anti-competitive concerted actions related to the distortion of tender results.
A direct railway service between Kyiv and Bucharest will be launched in test mode on Thursday, Ukrainian Foreign Minister Andriy Sybiga said.
“Direct rail service between Kyiv and Bucharest is launching today in test mode. Two special cars are leaving today for the Romanian capital via Chisinau and will return to Kyiv tomorrow,” he said during a statement to the media together with Romanian Foreign Minister Oana-Silvia Cioa.
The Experts Club Information and Analytical Center conducted a study on plum cultivation (production) worldwide. A video analysis of the study is available on YouTube.
According to the results of 2023, Ukraine ranked 13th in the world in terms of plum production, according to a video graphic based on official data from the FAO (Food and Agriculture Organization of the United Nations).
The video review published by Experts Club shows the dynamics of plum production in 1991–2023 by country. According to statistics, the leading positions are held by:
TOP 5 plum producing countries in 2023:
China — the undisputed leader, with almost 7 million tons,
Romania
Chile
Serbia
Turkey
The best indicator for Ukraine in recent years was 2021, when the country ranked 9th among the world’s top plum producers. In 2023, the plum harvest in Ukraine amounted to more than 160,000 tons. The main regions for plum production are Zakarpattia, Vinnytsia, Lviv, and Chernivtsi regions.
Plums are used both fresh and for processing: dried plums, jams, juices, and pastila.
Despite military risks and the occupation of part of its southern territories, Ukraine retains its status as an important producer of stone fruits in Eastern Europe.
Global data on the production of major crops for 2024 is currently being processed and will be available within a month.
For more details, see the video review at the link.
Experts Club is a platform for analytical video discussions, interviews, and reviews on key issues in economics, politics, medicine, security, and international relations. The project brings together leading experts, scientists, businesspeople, and public figures for in-depth analysis of current events.
The channel regularly features:
interviews with relevant specialists (economists, doctors, lawyers, diplomats),
expert panel discussions,
analytical videos and infographics (including those based on data from the UN, IMF, and FAO),
reviews of the global and Ukrainian economies.
The goal of the project is to form an independent expert community and develop a culture of analytics in Ukraine.
The Experts Club YouTube channel is available at: youtube.com/@ExpertsClub
