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Swiss gold industry warns against Swatch boss's US gold tax proposal
Switzerland's gold industry on Thursday voiced scepticism about a proposal by the boss of watchmaker Swatch to introduce a levy on gold exports to the United States in retaliation for US tariffs on Switzerland. US President Donald Trump last week imposed tariffs of 39% on imported Swiss goods, causing shock and dismay in the Alpine republic, a major refining and transit hub for gold. The US Customs and Border Protection afterwards said Washington might put tariffs on the most widely-traded gold bullion bars in the United States. However, Trump said on Monday that gold would not face tariffs. Swatch CEO Nick Hayek ... (full story)