BERLIN, Nov 14 (Reuters) - Swiss gold refiners are
interested in setting up shop in the United States in the
future, said a senior Swiss economic affairs official on Friday
at a press conference after a tariff agreement was reached with
Washington.
Switzerland exported nearly 53 billion Swiss francs'
($66.83 billion) worth of gold to the United States in 2024, a
major contributor towards the European country's overall trade
surplus of 39 billion francs with the U.S.
However, gold is not very profitable for Switzerland, with a
"very, very small" margin of perhaps 1% or less, said Helene
Budliger Artieda, director of the State Secretariat for Economic
Affairs (SECO).
"But I believe it's important for them. For the U.S., it's
crucial to strengthen its gold market," Budliger added.
The precious metal, which is imported to Switzerland
from elsewhere and then resized for the U.S. market, remains
exempt from U.S. tariffs.
The United States will reduce its tariffs on goods from
Switzerland to 15% from a crippling 39% under a new framework
trade agreement that includes a pledge by Swiss companies to
invest $200 billion into the U.S. by the end of 2028, the Swiss
government said on Friday.
($1 = 0.7931 Swiss francs)