The US has imposed tariffs on imports of one-kilo gold bars, potentially affecting Switzerland.
According to the Financial Times report on 7 August 2025, the US has imposed tariffs on imports of one-kilogram gold bars, citing a July 31 letter from US Customs and Border Protection.
The letter stated that one-kilogram and 100-ounce gold bars should be classified under a customs code subject to tariff rates.
According to the report, the measure could affect Switzerland, the world’s largest gold refining hub.
Relations between the US and Switzerland have worsened after the US announced that it will impose a 39% tariff on imports after the country’s President Karin Keller-Sutter failed to secure a trade deal with the US. According to customs data, gold remains one of Switzerland’s largest exports to the US.
The tariffs are set to take effect on 7 August 2025.
