ICYMI, a Reuters report overnight:
Switzerland is exploring ways to ease U.S. tariffs imposed by President Trump by boosting investment and production in America, including a proposal for its gold industry to build or expand refining capacity in the U.S.
The move comes after Washington slapped 39% tariffs on Swiss imports in August, citing a large trade deficit driven by Swiss pharma and gold exports.
Swiss officials and industry leaders are considering multiple steps to narrow the deficit, including U.S.-based gold refining, expanding domestic production of pharmaceuticals to cover all U.S. demand, and increasing purchases of U.S. military goods and LNG. Negotiations remain ongoing, with Economy Minister Guy Parmelin calling talks with U.S. officials “constructive.”
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