Switzerland plans to invest in the U.S. gold refining industry in exchange for Trump's tariff cuts

On September 29th, according to US media reports, in order to convince the Trump administration to lower the 39% import tariff imposed last month, Switzerland offered to invest in the US gold refining industry as part of its related efforts. According to people familiar with the matter, Switzerland's proposal to US Treasury Secretary Bescent and US Trade Representative Jagriel shows that < b > Swiss refining companies will transfer the lowest profit margin business to the United States, including melting gold bars traded in London and recasting them into smaller gold bars preferred by the New York market. Christoph Wild, president of the Swiss Precious Metals Production and Trade Association, said there were market inefficiencies in the process of transporting gold from the UK to the US through Switzerland, which could be solved by increasing domestic refining capacity. He pointed out that expanding existing refineries may be the best way to achieve this goal, but the viability of such projects depends on whether there is enough demand in the United States.