Swiss Gold Exports Hit by U.S. Tariff Surge

The Swiss precious metals association has raised alarms regarding a recent hike in U.S. tariffs on Swiss gold exports, now soaring to 39%. The association's president, Christoph Wild, emphasized the potential impact on the gold industry and Switzerland's historic trade ties with the U.S.

Previously, gold bars weighing 1kg and 100oz were exempt from such tariffs. However, a change in policy means these tariffs now apply across the board for Swiss imports.

This tariff increase could disrupt the physical exchange of gold between two traditionally allied trading partners, raising concerns within Switzerland's precious metals sector about future trade relations.