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Swiss-refined kilobars and 100 oz bars moving to New York (COMEX depositories). Gold normally enters the US duty-free, but the 2025 tariff episode made this pair unique: IEEPA reciprocal tariffs on Switzerland reached 39%, and a CBP ruling of 31 Jul 2025 put 1 kg and 100 oz cast bars in HTSUS 7108.13.55, outside the Annex II exemption, until EO 14346 added the bullion subheadings to the exemption from 8 Sep 2025. The 14 Nov 2025 US-Switzerland-Liechtenstein framework cut the Swiss rate to a 15% ceiling (retroactive, implemented 18 Dec 2025) and left the gold exemption unchanged. Flows swung from record highs (Jan-Mar 2025) to near zero (Aug 2025) and back-flows to Switzerland. 2026-09-28: IEEPA tariffs (39%, then 15% ceiling) held unlawful by the Supreme Court on 20 Feb 2026; replaced by a 10% s.122 surcharge (24 Feb-24 Jul 2026, bullion excepted) and from 24 Jul 2026 a s.301 tariff taking Swiss goods to 12.5% combined; gold treatment under s.301 not confirmed.
本页的可信程度
- 二手资料 1
- 未经核实 1
- 研究备注 1
- 未记录 2
- 文本 1
- 未说明 1
实践与法律不符之处
可靠来源显示的、法律未作规定的实际情况。
Policy said bullion would not be tariffed ('Gold will not be Tariffed!', 11 Aug 2025), but CBP's 31 Jul 2025 classification put the most-traded COMEX bars from Switzerland outside the exemption until EO 14346 took effect; the Swiss Precious Metals Association warned exports would be 'economically unviable'.
二手资料未记录Large mirror gap in 2024: Switzerland reports 153 t to the US, the US records 24 t from Switzerland. Not explained by the sources read (candidate causes: US origin attribution, foreign-trade-zone or warehouse entries, timing around year-end).
未经核实研究备注: Inference by the pair researcher from the mirror figures; not stated by either statistics office.
我们未能获取的内容
研究所需但未能获得的文件、它们可能所在的位置,以及原因。
未记录缺口
使用该国家对的路线
来源
- Canadian Jeweller - Trump put a tariff on gold - or did he?打开来源未记录未说明Canadian Jeweller Magazine
- Executive Order 14346 of September 5, 2025 — Modifying the Scope of Reciprocal Tariffs and Establishing Procedures for Implementing Trade and Security Agreements打开来源未记录文本President of the United States · 阅读于 2026-09-28
Missing from this copy: Nothing. Body = the complete FR PDF (156 pages, FR 43737-43892) from its text layer (the FR HTML page shows the annexes only as images). The annex text layer is govinfo's machine OCR, not ours, with errors (e.g. "nonmonetarv"); the 7108 lines were checked against the page images of FR 43742 (Annex I) and FR 43788 (Annex II): codes and "Addition" notes correct.