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Brad Setser, industry influencer, discusses gold trade classification nuances using Q1 2025 import and export data. According to Setser, gold entered as metal forms and exited as non-monetary gold, based on established end-use import statistics and NAICs codes.
He emphasizes that these movements are clearly documented, highlighting the importance of data accuracy in tracking such reclassifications.
Setser previously discussed how Chinese export statistics can better capture U.S. import discrepancies in cases of tariff fraud and trade reporting. He has also examined whether Chinese banks act solely as intermediaries for domestic foreign exchange deposits. These earlier insights reflect his ongoing focus on data reliability in cross-border financial activity.