Imposition of 39% export rate described as ‘another blow’ to Switzerland’s world-leading refining industry
The price of gold futures have soared to a record high after it was reported that the US would put tariffs on imports of 1kg bars in a further trade blow to Switzerland, which dominates the world’s refining industry.
Swiss exports to the US were hit by a crippling 39% tariff on Thursday after the country’s president returned empty-handed from a last-minute dash to Washington in an attempt to get the rate, among the highest imposed by Donald Trump, lowered.
Yep, lets go check on the DXY again…
Yep, going down, again.
https://www.marketwatch.com/investing/index/dxy
Down from about 110.2 at about the inauguration, to about 98.3 right now.
Or, Trump has devalued the USD against the other currencies it actually trades against, by about 10.3% in just over 6 months.