All articles tagged with #gold exports
Switzerland's gold industry faces scrutiny and potential penalties after US tariffs on Swiss gold imports, sparking debate over whether the sector should bear some responsibility for the trade tensions, with calls for possible tariffs or industry adjustments to mitigate the impact.
The article explains the high tariffs imposed by the U.S. on Switzerland, driven by a large trade deficit mainly due to gold refining, pharmaceuticals, and precision machinery exports. The U.S. criticizes Switzerland for not addressing its trade imbalance and for slow sanctions against Russia, leading to tensions despite a historically close relationship. Switzerland is exploring ways to negotiate, including increased investments and strategic exports, to reduce tariffs and improve relations.