Switzerland’s failure to negotiate lower tariffs with US President Donald Trump has sparked a national debate over the role of its gold industry and whether it should pay for the “damage”.
The world’s largest gold refining hub has been rocked by Washington’s announced 39 per cent rate on select Swiss imports and an unexpected levy on gold bars, which was first reported by the Financial Times. The moves were spearheaded by Trump as part of his broader push to reduce America’s trade deficit.
The White House said on Friday it would issue an executive order “clarifying” the US stance on gold bar tariffs in the near future.
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