The United States Implements 39% Tariff on Swiss Imports
The United States has implemented a 39% tariff on imports from Switzerland, effective August 7, 2025, significantly impacting the Swiss gold refining industry.
This tariff, the highest among developed nations, specifically targets one-kilo and 100-ounce gold bars, which were previously exempt from such taxes. The move is part of a broader strategy to address a $48 billion trade deficit with Switzerland, raising concerns among Swiss exporters and traders about potential disruptions in the global gold market. Following the announcement, gold prices surged, reflecting market uncertainty regarding future supply and demand dynamics.
