Gold Confusion and a Swift Correction
Before the tariffs took effect on August 7, many U.S. investors scrambled to stockpile Swiss gold, anticipating price spikes. However, confusion followed when U.S. Customs and Border Protection clarified that the tariffs applied to all gold bars, not just Swiss-made ones.
Days later, Trump backtracked, announcing that Swiss gold would be exempt and formalizing that exemption through a September 5 executive order.
Renewed Talks Signal Progress
Diplomatic momentum appears to be rebuilding. Talks resumed last week between Swiss Federal Councilor Guy Parmelin and U.S. Trade Representative Jamieson Greer, with Parmelin describing discussions as “very constructive” in a social media post Friday.
If successful, the U.S.-Switzerland tariff accord could mark one of the Trump administration’s most significant recalibrations of trade policy toward an ally—signaling a possible end to one of Europe’s most closely watched trade rifts.
