The Swiss Precious Metals Association (ASFCMP) has responded to the U.S. imposing a 39% tariff on gold imports and clarifying that 1kg and 100oz gold bars are not exempt from these tariffs.
The U.S. Customs and Border Protection classified these Comex-deliverable gold bars under a code that is subject to tariffs, affecting imports from all countries, not just Switzerland.
ASFCMP President Christoph Wild expressed concern about the impact on international gold flows and the historic gold trade relationship between Switzerland and the U.S.
The association is engaging with Swiss authorities, the London Bullion Market Association, World Gold Council, and U.S. entities to address the situation, while noting that the tariffs make gold exports to the U.S. economically unviable.