Swiss Gold Industry Lobby Rejects Idea of US Relocation: NZZ

Switzerland’s trade group for gold refiners opposes a relocation of some operations to the US to ease a trade imbalance between the countries and help tariff negotiations, newspaper Neue Zuercher Zeitung reported.

The government is trying to find ways to get President Donald Trump to lower his 39% tariff on Switzerland, which is damaging companies and the economy. There have been suggestions that moving gold refining capacity to the US would be an option to appease Trump.

Christoph Wild, president of the Swiss Association of Precious Metals Producers and Traders, told NZZ that the government “shouldn’t make hasty ...