Ft: US imposes tariffs on one-kilo gold bars
A move that threatens to disrupt the global market and deal a new blow to Switzerland, the world's largest refining centre.
1' min read
1' min read
The United States has imposed tariffs on imports of one-kilo gold bars, a move that threatens to disrupt the global market and deal a new blow to Switzerland, the world's largest refining centre. The Financial Times reports this exclusively.
1-kilo bars are the most common form traded on the Comex, the world's largest gold futures market, and make up the bulk of Switzerland's bar exports to the United States.
Relations between Washington and Berne deteriorated after Donald Trump announced a 39% tariffs on imports from the country last week.
The tariffs decision has dealt "another blow" to the Swiss gold trade with the US, Christoph Wild, president of the Swiss Association of Precious Metal Producers and Dealers, told the Financial Times. Wild added that the tariffs on gold will make it difficult to meet demand for the metal.
