Swiss Gold Refineries Can Breathe a Sigh of Relief
Tariffs on gold imports – or not? US President Donald Trump has provided clarity, at least for now.
As recently as Friday, the «Financial Times» reported that the punitive tariffs of 39 percent would also be extended to the import of 1-kilo gold bars. The newspaper cited a «Ruling Letter» from the US Customs and Border Protection (CBP) dated July 31. In it, the gold bars are classified under a tariff code that foresees such duties.
By that point, tempers were already running high among Swiss parliamentarians. Several representatives from the center and the left-green bloc had singled out Swiss gold refiners as scapegoats for the failed tariff negotiations with the US and were trying to outdo each other with their demands.
Then on Monday, US President Donald Trump ruled out potential trade barriers on certain gold imports from abroad in a post on his platform Trust Social.
