Switzerland has included gold in the plan with which he wants to convince Donald Trump to quit customs duties against

Switzerland will propose to the Trump administration that its golden industry will build a refinery in the United States or to increase its processing capacity, as part of a plan to obtain the customs duties imposed by Washington, two familiar sources with the plan told Reuters.

President Donald Trump imposed 39% customs duties on August 7 for imports of Swiss goods, due to US commercial deficit with Switzerland, which had eliminated its own industrial rates in early last year.

This commercial deficit with Switzerland was mainly due to Swiss exports of chemicals and pharmaceuticals, as well as gold. Since the entry into force of customs duties, the Swiss government and the private sector have worked together to write a plan for reducing them.

Switzerland is an important gold refineer, and part of the plan provides for the gold industry to increase its refining capacity in the US to help balance commercial flows.

This would mean building a refinement or investing in additional capacities in the US, according to Reuters sources that have requested the protection of anonymity due to the delicate nature of the subject.

The Swiss government did not want to comment on the information

The Ministry of Economy of Switzerland has said that confidential negotiations with the United States are taking place at different levels and that they do not comment on them.

Christoph Wild, president of the Swiss ASFCMP Metal Association, refused to comment on whether or not a refinery will be built. But he said that as long as gold contributes to increasing the deficit, the industry must explore ways to prevent this.

“This could even mean satisfying the American demand directly from within the United States,” he said.

The Minister of Economy of Switzerland, Guy Parmelin, had last Friday what he called “constructive discussions” with the main economic officials of Trump. According to Reuters sources, the gold -tied plan was already on the table then, and the negotiations between the two countries will continue.

Switzerland has worked on presenting a proposal for Trump, which includes both American goods and additional investments in the United States.

The pharmaceutical industry, a “ghimpe” in the commercial negotiations between the US and Switzerland

To reduce the deficit caused by the pharmaceutical sector, the objective is for Swiss companies to cover the entire American demand with products made in the United States, says Reuters sources.

This could even include enough additional production to allow Swiss pharmaceutical companies to export from the US.

Switzerland hopes that, in this way, its pharmaceutical companies will be exempted from any additional customs taxes resulting from a separate Washington investigation, about US dependence on external drug production and its potential to threaten national security.

The Association of the Pharmaceutical Industry in Switzerland, Interpharma, argued that, once included services, there is not a US deficit and that the attempt to eliminate the commercial gap to the detriment of pharmaceutical companies would affect the economy of Switzerland.

However, the associate admits that there is a tendency to serve the big markets through a more localized production, but that the increase in the US would probably affect the role of Pharmaceutical Switzerland.

The Swiss government also intends to increase the acquisition of American military goods and allow the United States to sell more naturally liquefied natural gas to and through Switzerland.

Reuters sources also say that in order to help balance trade, the plan stipulates that Swiss companies register several energy transactions through Switzerland instead of London.