Swiss Gold Industry Lobby Rejects Idea of US Relocation, NZZ Says
Gold bullion bars at a refinery in Balerna, Switzerland.
Photographer: Stefan Wermuth/BloombergSwitzerland’s trade group for gold refiners opposes a relocation of some operations to the US to ease a trade imbalance between the countries and help tariff negotiations, newspaper Neue Zuercher Zeitung reported.
The government is trying to find ways to get President Donald Trump to lower his 39% tariff on Switzerland, which is damaging companies and the economy. There have been suggestions that moving gold refining capacity to the US would be an option to appease Trump.