Swiss Gold Exports Might Not Face US Tariffs After All

2025-08-09 02:14:16

(MENAFN- Swissinfo) Gold exports to the United States may not be taxed after all. The White House plans to issue an executive order in the near future to clarify misinformation about the taxation of gold bullion, in particular. This content was published on August 9, 2025 - 10:58 3 minutes Keystone-SDA

Français fr Les exportateurs d'or dans l'attente, le métal peut-être pas taxé Original Read more: Les exportateurs d'or dans l'attente, le métal peut-être pas taxe

This announcement of a future clarification decree, transmitted on Friday by news agency AFP, follows information from US customs that caused panic among specialists and on the markets. A customs document dated July 31 that was made public on Friday indicated that one-kilo and 100-ounce gold bars would be subject to customs duties . This was in fact“false information”, Bloomberg later reported, based on a statement by an official who requested anonymity.

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The White House plans to issue an executive order shortly to clarify matters. In the meantime, fears that gold might be taxed sent the price of the precious metal soaring on Friday evening to a new record of $3,534.10 an ounce (31.1 grams), before falling back to $3,461.40 at around 8pm, after the clarification.

For Switzerland, a major gold refining centre, a tax on gold would represent a further blow after Switzerland was hit on Thursday with heavy tariffs of 39% on its products entering the United States.

Until now, investors have always taken it for granted that gold was exempt, along with pharmaceutical products, which are under threat of a separate tariff.

Traders hold their breath

The Swiss Association of Manufacturers and Traders in Precious Metals (ASFCMP) expressed its concern on Friday about the possibility of taxation. A tax on gold“would make its export to the United States economically unviable”.

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