Swiss Gold Industry Lobby Rejects Idea of US Relocation, NZZ Says

Neue Zürcher Zeitung

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In order to reduce the export surplus, Swiss refineries should increasingly melt their gold in the USA – according to the idea of ex-ambassador Thomas Borer. However, the industry does not want to know about it.

rtl.nl

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Swiss gold smelters are in a corner in their own country. Switzerland's gold exports have created a large trade surplus with the US, which has resulted in exorbitant tariffs imposed by Trump. A plan to relocate part of the gold sector to the US has not gone down well with the industry.

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The Swiss Gold Refiners' Association opposes the relocation of some of its gold production to the US. The authorities hope this will reduce the trade deficit and ease negotiations on import duties, reports the Neue Zürcher Zeitung.