Swiss flag gold
  • Talks with Americans encouraging
  • Have the impression the US is looking for tailor-made solutions with countries
  • Pause on tariffs not to be lifted during negotiations
  • Today the American side 'clearly committed' to accelerating talks
  • Switzerland does not subsidize industry, but other countries may, these are the points the US is interested in
  • Switzerland is now in a group of countries that are now treated swiftly

Switzerland has a large trade surplus with the United States and that's led to a 31% tariff on Swiss imports that's been lowered to 10% until July 8. That said, the imbalance is much smaller when excluding gold and gold trade is something that Trump referred to yesterday in the UK deal.

Source: Forex Live