Gold Trumps Bitcoin in Tariff Relief Deal: Economist

Economist Peter Schiff claims Apple secured tariff exemptions for semiconductors with a gold-plated gift worth $1 million, stating "if you want to bribe Trump, bring gold—not Bitcoin." The gift, an engraved glass disc on a 24-karat gold base, was presented to President Donald Trump during an Oval Office event. Schiff argues that gold still holds value, especially in politics.

The global gold market is facing significant disruption following the U.S. government's decision to impose a 39% tariff on Swiss gold imports. This move, effective as of July 31, 2025, has the potential to significantly impact the global bullion market and the Swiss economy [1].

The U.S. Customs and Border Protection (CBP) ruling reclassified one-kilo and 100-ounce gold bars under a new customs code, subjecting these imports to tariffs. This decision contradicts previous industry expectations and has caused uncertainty among Swiss gold refineries, with some temporarily reducing or halting shipments to the U.S. [1].

Economist Peter Schiff, a prominent gold advocate, has warned that these tariffs could "wreak havoc on the COMEX," the world's largest gold futures market. Schiff expects prices to surge as market participants rush to cover short positions to avoid the steep import duties [3].

The new tariff regime could lead to a significant increase in the price of gold bars, as market participants seek to avoid the additional duties. Even if the actual imports do not materialize, the mere threat of tariffs is likely to push bar prices higher due to scarcity and risk hedging [3].

In a separate development, economist Peter Schiff has claimed that Apple secured tariff exemptions for semiconductors with a gold-plated gift worth $1 million. The gift, an engraved glass disc on a 24-karat gold base, was presented to President Donald Trump during an Oval Office event. Schiff argues that gold still holds value, especially in politics [2].

The U.S. government's decision to impose tariffs on Swiss gold imports comes on the heels of a contentious phone call between Swiss President Karin Keller-Sutter and President Donald Trump. The U.S.'s new tariff rates of 39% have put immense pressure on the Swiss government, potentially leading to a significant disruption in the global bullion market [1].

The Swiss economy faces significant challenges due to the high tariff rates on its exports to the U.S. The recent decision to impose tariffs on Swiss gold imports further complicates the situation, potentially leading to a significant impact on Switzerland's GDP [1].

While the tariffs on Swiss gold imports are likely to disrupt the global bullion market, the exemption of Apple's semiconductor imports highlights the potential benefits of investing in American manufacturing. The U.S. has announced a 100% tariff on semiconductor imports, with an exemption for companies manufacturing in the U.S. or those committed to doing so [2].

In conclusion, the U.S. government's decision to impose tariffs on Swiss gold imports and the exemptions for Apple's semiconductor imports have significant implications for the global bullion market and the Swiss economy. As the market adapts to these changes, investors and financial professionals should closely monitor the developments and adjust their strategies accordingly.

References:
[1] https://www.inkl.com/news/us-imposes-tariffs-on-swiss-gold-imports-threatening-global-bullion-market-peter-schiff-tells-buyers-to-better-do-this-now
[2] https://macdailynews.com/2025/08/07/president-trump-says-u-s-to-levy-100-tariff-on-imported-chips-firms-with-u-s-manufacturing-commitments-exempt/
[3] https://m.economictimes.com/markets/commodities/news/trumps-39-tariffs-on-gold-bars-to-wreak-havoc-on-comex-peter-schiffs-explains-how/articleshow/123183447.cms