Switzerland proposed investing in the US gold refining industry to persuade the Trump administration to reduce the 39% import tariff imposed last month. According to the proposal, Swiss refineries will shift their least profitable operations to the US, including melting gold bars traded in London and recasting them into smaller gold bars popular in New York. The Swiss government stated that it has "optimized the conditions presented to the US to reach an agreement quickly" and indicated that "diplomatic and political communications will continue in hopes of swiftly reducing the additional tariffs." Spot gold maintained an increase of about 1.8%, stabilizing near the historical high of $3,832.79
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The Swiss government proposed investing in the US gold refining industry to persuade the Trump administration to reduce the 39% import tariff. In the proposal, Swiss refineries will transfer their least profitable operations to the US and re-mint gold bars. Switzerland stated that it has optimized conditions to quickly reach an agreement and will continue diplomatic and political communications. Spot gold maintains an increase of about 1.8%, close to the historical high of $3,832.79
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