Published by Global Banking & Finance Review®
Posted on August 8, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleUS tariffs on gold bullion may disrupt global supply, warns Swiss Precious Metals Association, impacting US-Swiss trade relations.
(Reuters) -The Swiss Precious Metals Association (ASFCMP) said on Friday the imposition of U.S. trade tariffs Washington is considering on the most widely traded bullion bars could harm the international flow of physical gold.
According to the website of the U.S. Customs and Border Protection service, Washington may subject gold kilo bullion bars and 100 troy ounce bullion bars to country-specific import tariffs.
"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," said Christoph Wild, president of the ASFCMP.
Switzerland is crucial to U.S. gold import tariffs because of its dominant role in global gold refining.
The association said it was in active dialogue with key stakeholders, including Swiss authorities, the London Bullion Market Association, the World Gold Council, and key U.S. entities.
U.S. gold futures on COMEX surged to a record high after Financial Times reported the news earlier. [GOL/]
(Reporting by Ashitha Shivaprasad in Bengaluru, Editing by Louise Heavens and Jan Harvey)
The Swiss Precious Metals Association expressed concern that U.S. trade tariffs on gold bullion bars could harm the gold industry and the physical exchange of gold with the U.S.
Switzerland plays a crucial role in global gold refining, making it significant in discussions about U.S. gold import tariffs.
U.S. gold futures on COMEX surged to a record high following reports about the potential imposition of tariffs on gold bullion bars.
The association is in active dialogue with key stakeholders, including Swiss authorities, the London Bullion Market Association, and the World Gold Council.
The U.S. Customs and Border Protection service indicated that gold kilo bullion bars and 100 troy ounce bullion bars may be subjected to country-specific import tariffs.
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