Consequently,
Swiss gold industry warns proposal:
The Swiss Gold sector expressed its skepticism on Thursday in the face of the owner of the watchmaker Swatch to establish a tax on gold exports to the United States. Therefore, response to American customs duties aimed at Switzerland.
Last week. Moreover, US President Donald Trump imposed 39 % customs duties on imported Swiss products, causing shock and dismay in the Swiss Confederation, which constitutes a nerve center of refining and transit of gold.
Subsequently. Nevertheless, the American customs and border protection agency (US Customs and Border Protection) indicated that Washington could impose customs duties on the most exchanged Golden Lingots in the United States. However, Donald Trump assured Monday that gold would not be affected by these measures.
Swatch Director General Nick Hayek told the Swiss newspaper Blick that Trump’s announcement demonstrated that gold customs duties would. Furthermore, be painful for swiss gold industry warns proposal the American president.
“The time has come to go to the offensive. Switzerland is expected to establish a 39 % export tax on gold bars for the United States. “he said on a daily basis. “This is where you have to hit him. It’s his Achilles heel. »»
The Swiss association of manufacturers. traders of precious metals (ASFCMP) indicated that if initiatives aimed at better balanced bilateral exchanges were welcome, it was necessary to assess the interests of Switzerland in the long term.
“An export tax on Swiss gold to the United States would not only harm the Swiss economy. but would also target the reputation of a country that has always promoted and defended free trade,” said Christoph Wild, president of the ASFCMP.
The State Secretariat for the Economy (SECO) refused to comment on the proposal. while stressing that the support of economic circles was generally welcome and contributed swiss gold industry warns proposal to highlighting the close economic ties between the United States and Switzerland.
Donald Trump justified his 39 % tax by evoking Switzerland’s important trade surplus with the United States. part of which comes from gold exports.
Nick Hayek said that even if a gold tax did not fold Trump. she would reduce the American trade deficit with Switzerland.
“If Trump does not give in to our pressure. we will at least improve the trade balance with the United States if the Americans stop importing gold bars via Switzerland,” he told Blick.
Switzerland is currently pursuing discussions with the American authorities to reduce customs duties imposed by Washington.
Swiss gold industry warns proposal
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