ASFCMP Criticizes U.S. Gold Tariffs
(MENAFN) The Swiss Precious Metals Association (ASFCMP) has voiced its unease regarding the United States' recent decision to raise tariffs to 39% on one-kilogram and 100-ounce gold ingots.
The organization stressed that this move influences shipments from all nations, not just Switzerland.
ASFCMP Chairman Christoph Wild declared in a release: “We are particularly concerned about the implications of the tariffs for the gold industry and the physical exchange of gold with the U.S., a long-standing and historical partner for Switzerland.”
Although the American marketplace remains a major player for Switzerland’s valuable metals trade, the ASFCMP highlighted that the industry functions on a worldwide scale and does not depend on one single region.
This tariff escalation comes in response to a temporary commercial disparity in early 2025, which arose due to U.S. economic reactions to tariff unpredictability and rising international political strains.
The association remarked that these levies make it financially impractical to ship such gold items to the U.S., effectively removing any possible trade surpluses from these exports.
The organization stressed that this move influences shipments from all nations, not just Switzerland.
ASFCMP Chairman Christoph Wild declared in a release: “We are particularly concerned about the implications of the tariffs for the gold industry and the physical exchange of gold with the U.S., a long-standing and historical partner for Switzerland.”
Although the American marketplace remains a major player for Switzerland’s valuable metals trade, the ASFCMP highlighted that the industry functions on a worldwide scale and does not depend on one single region.
This tariff escalation comes in response to a temporary commercial disparity in early 2025, which arose due to U.S. economic reactions to tariff unpredictability and rising international political strains.
The association remarked that these levies make it financially impractical to ship such gold items to the U.S., effectively removing any possible trade surpluses from these exports.
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