US Flip-Flops on Swiss Tariffs: Get Out of US/”Dodge City” for Swiss Stability

With U.S. tariff policy by Tweet changing almost daily, VON GREYERZ principals Egon von Greyerz and Matthew Piepenburg sat down over the weekend to address Trump’s latest 39% import duty on Switzerland – but within hours of the recording, and as Egon surmised therein, Trump flip-flopped yet again and dropped the gold tariffs.

Piepenburg began the conversation outlining what now appear to be outdated concerns regarding Trump’s end-of-week import duties targeting Swiss kilo bullion bars. Matt’s original observations have, for now at least, been rendered moot by yet another Trump two-step of big headlines followed by dramatic policy walk-backs. 

Regardless of such caprice from DC, von Greyerz’ and Piepenburg’s warnings as to where Congress sits in all of this remain the same. Trump’s consistent bypassing of Congress (and the U.S. Constitution) in 2025 would make “the FDR of the 1930s blush.” Nor is the U.S. winning many global hearts and minds with trade policy shocks, swings and retracements slamming daily into a world awash in asset bubbles, debt cliffs and war drums. 

In this seemingly lawless background of “shoot from the hip” Trump policies, the iconic voice and informed perspective of Egon von Greyerz carries particular weight. Egon’s unique understanding of both gold and Switzerland, whose far stabler history of direct democracy make it a superior jurisdiction for global investors, is carefully confirmed by these changing headlines from DC.  

For Egon, such “shoot from the hip” US policy has devolved into a kind of “Dodge City” where desperation, evidenced by flip-flopping policies, suggests further capital controls on US citizens who face fewer freedoms and exaggerated fears of a European ground war. In this background of narrative instability and policy caprice, von Greyerz puts reality into sober perspective while underscoring his decades-long message of legally holding this essential wealth preservation asset outside of the fractured political, banking, market and currency systems of debt-desperate nations like the US. 

Indeed, with all the crazy happening in the home of the world reserve currency, Swiss consistency, as well as Swiss gold and jurisdictional stability, stand in calm contrast to a gyrating U.S.

Courtesy of VonGreyerz.gold

********