The Swiss gold industry lobbying organization is opposed to relocating production capacity to the United States.

According to the "Neue Zrcher Zeitung" newspaper, the Swiss gold industry organization is opposed to relocating some business to the United States in order to alleviate the trade imbalance between the two countries and help with tariff negotiations. The 39% tariff imposed by the United States on Switzerland is damaging Swiss companies and the overall economy, and the Swiss government is trying to convince President Donald Trump to lower the tax rate. Some suggest that relocating gold refining capacity to the United States may be a way to please Trump. Christoph Wild, president of the Swiss precious metals producers and traders association, said that the government "should not make hasty decisions." Wild stated that Switzerland's massive gold export surplus at the end of 2024 and the beginning of 2025 was an exceptional situation, largely due to traders shipping gold to the United States early to avoid potential tariffs.