Swiss Gold Producers Eye U.S. Expansion After New Tariff Agreement

Swiss gold producers plan to establish operations in the U.S. following a tariff deal with Washington. Gold is a major part of Switzerland's trade surplus with the U.S. Despite its low profit margin, gold is important to both nations. The U.S. will decrease tariffs on Swiss goods, encouraging Swiss investment.

Swiss gold producers are poised to expand into the U.S. market following a landmark tariff agreement with Washington, announced on Friday. Gold, a significant driver of Switzerland's trade surplus with the U.S., will continue to be exempt from tariffs, according to a senior Swiss economic affairs official.

Despite gold's significance in trade, the profit margins for Switzerland remain slim, hovering around 1% or less, as noted by Helene Budliger Artieda, director of the State Secretariat for Economic Affairs. She emphasized the strategic importance of the U.S. gold market for both countries.

Under the new trade agreement, the United States will reduce tariffs on Swiss goods from 39% to 15%. This framework also includes a commitment from Swiss companies to invest $200 billion in the American economy by 2028, the Swiss government disclosed.

(With inputs from agencies.)