New levies mark fresh blow for leading bullion exporter Switzerland

New levies mark fresh blow for leading bullion exporter Switzerland

Imposition of 39% export rate described as ‘another blow’ to Switzerland’s world leading refining industry

One analyst said the Trump administration tacking on new tariffs was “precisely what the market feared.”

The price of U.S. gold futures spiked Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.