Swiss precious metals association concerned about US tariff on gold bars

ZURICH, Aug 8 (Reuters) - The Swiss precious metals association on Friday said it was concerned about the increase on tariffs on gold exports to the United States to 39%.

"We are particularly concerned about the implications of the tariffs for the gold industry and the physical exchange of gold with the U.S., a long-standing and historical partner for Switzerland," said Christoph Wild, president of the Swiss Association of Manufacturers and Traders in Precious Metals.

Gold bars of 1kg and 100oz were previously exempt from U.S. tariffs, but now country-specific tariffs apply.

The U.S. imposed tariffs of 39% on Swiss imports on Thursday.