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Switzerland Has a Golden Reason for Its Widening U.S. Trade Gap

Gold bars stacked at a refinery in Switzerland.

Gold bars stacked at a refinery in Switzerland.

Photographer: Adrian Moser

Switzerland, known for producing world-leading pharmaceuticals, machinery and watches, has another economic distinction to its credit: Europe’s biggest trade surplus in goods with the U.S.

During the first five months of the year, the country vaulted over Ireland and Germany to earn the title, according to data from the U.S. government, which is releasing numbers for June on Wednesday. Switzerland sits at No. 3 globally, up from 10th at the end of 2019, with only China and Mexico posting larger surpluses in the value of goods traded with the U.S. from January through May.