By Dave Graham
Reuters
via Yahoo News, Sunnyvale, California
Thursday, September 11, 2025
ZURICH -- Switzerland is proposing that its gold industry should build a refinery in the United States or increase its processing capacity there as part of a plan to reduce U.S. trade tariffs, according to two people familiar with the matter.
President Donald Trump on August 7 slapped 39% tariffs on Swiss goods imports due to the U.S. trade deficit with Switzerland, which scrapped its own industrial tariffs at the start of last year.
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That goods trade deficit with Switzerland has been chiefly due to Swiss exports of chemicals and pharmaceutical products, plus gold. Since the tariffs kicked in, the Swiss government and the private sector have been working together to lower them.
Switzerland is a top refiner of gold, and part of the plan is for the gold industry to raise its refining capacity in the U.S. to help even out trade flows, said the people familiar with discussions, speaking on condition of anonymity due to the sensitivity of the matter. ...
... For the remainder of the report:
https://finance.yahoo.com/news/swiss-add-lustre-trump-trade-104807888.html [2]
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