Swatch CEO Says Swiss Should Counter US Tariffs With Gold Levy

Swatch Group AG’s Chief Executive Officer Nick Hayek said the Swiss government should retaliate against the 39% tariffs imposed by President Donald Trump by introducing a levy on shipments of gold to the US.

Swiss companies, including Swatch, are still reeling from the US president’s decision to hit the country with the highest import tariffs of any developed nation. However, the Trump administration clarified earlier this week that US imports of gold bars will not be subject to tariffs, after a government agency previously stunned traders by saying they ought to be taxed.

Nick Hayek

Photographer: Pascal Mora/Bloomberg

“Now is the time to ...