8 minutes agoCan gold serve as a negotiating card in Swiss trade relations? USA?
Periskopi(10 months ago)
(10 months ago)Massive gold exports from Switzerland to the US are creating a distorted view of the trade balance between the two countries. Gold is not produced in Switzerland, but is imported mainly from London, refined, and then exported back mainly as processing service. This artificially increases the value of Swiss exports to statistics, which has prompted the US to decide [...]
Gold is not produced in Switzerland, but is imported mainly from London, refined, and then exported back mainly as processing service.
This artificially increases the value of Swiss exports to statistics, which has prompted the US to impose high customs tariffs, such as 39% against certain Swiss goods.
In this context, experts and authorities are considering the possibility of gold being excluded from commercial statistics to reflect more accurately on real economic exchanges, the albinfo.ch broadcasts.
Switzerland could use this argument as a negotiating tool to ease the US tariff pressure and avoid misunderstandings on the actual size of its exports.
