Editor’s Note
This article reports on Switzerland’s strategic proposal to invest in U.S. gold refining as a potential pathway to negotiate lower import tariffs, highlighting the economic pressures and uncertainties created by recent U.S. trade policies.
Foreign media reports indicate that Switzerland has proposed investing in the United States’ gold refining industry in an attempt to persuade the administration of US President Donald Trump to lower the 39% import tariff imposed last month. This tariff is the highest among all developed countries, not only disrupting Swiss exports to the US but also causing increased uncertainty for the country.
After Swiss Finance Minister Karin Keller-Sutter’s attempt to negotiate on the tariff issue with Trump proved unsuccessful, Swiss officials are now considering making concessions in areas ranging from energy to agriculture. Informed sources stated that the proposal presented by Switzerland to US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer shows that Swiss refining companies plan to transfer the business segments with the lowest profit margins to the United States.
The US Treasury Department has not responded, while the Swiss government has refused to comment on discussions within the gold industry. However, it stated that it has “optimized proposals to the United States to facilitate the reaching of an agreement,” and indicated that diplomatic and political exchanges will continue to expedite the resolution of trade tariff issues.