Harmonization of Customs Duties in the Precious Metals Sector

Negotiation Outcome Celebrated in Precious Metals Sector

In the realm of Pforzheim's historic industrial buildings, employers from the Federal Association of Jewellery, Watches, Silverware, and Related Industries e.V. (BVSU) and the Precious Metals Association of Schwäbisch Gmünd welcomed IG Metall reps for the second round of 2025 negotiations in the precious metals industry on February 5, 2025. The atmosphere was tense, yet hopeful.

The employers opened with a thoughtfully crafted offer, modeled after the reference agreement in the metal and electrical industry. Significant enhancements were proposed, particularly concerning wage boosts and augmented training allowances. After an exhaustive negotiation marathon, a deal was sealed just before midnight.

This agreement encompasses various aspects, such as:

The collective wage contracts, valid until June 30, 2025, will escalate by 2.0% from July 1, 2025, and another 3.1% from July 1, 2026.
Training allowances will receive a disproportionate increase of 140 euros from April 1, 2025, and 3.1% from July 1, 2026.
Employees with uninterrupted tenures as of May 1, 2025, will earn a one-time gross payment of 600 euros (pro-rated for part-timers), with flexibility for companies in hardship to defer 200 euros to August 2025 or offer an additional free day instead.
The "Additional amount for employees" remains unchanged at 651.50 euros in 2025 and rises to 952.00 euros in 2026 (varying rates for trainees).
Eligible employees may trade cash payments for additional free days, starting from 2026, with partial options in 2025.
Under challenging economic circumstances, employers may postpone or even cancel the existing one-time payment TEMB in the calendar years 2025 and 2026, subject to certain conditions. Companies that have agreed to convert TEMB into free days by February 5, 2025, can apply this differentiation to the "Additional amount for employees" for the 2025 calendar year.

The agreement, valid for 25 months until at least January 31, 2027, prompted Guido Grohmann, BVSU Managing Director, to comment: "This negotiation result is like a medal with two sides. On one side, we've achieved a satisfactory outcome compared to IG Metall's demands. It follows the key questions of the pilot agreement in the metal and electrical industry, but provides superior conditions for our companies in crucial areas. The other side of the medal reveals the challenging economic situation we're grappling with. In light of this, the outcome serves as a significant burden that companies and employees will bear in the upcoming years. The employers' associations express their gratitude to our collective bargaining commission members for their tireless commitment in this difficult negotiation environment."

The Tariff Parties' Committees are slated to decide on the deal's acceptance by March 25, 2025.

Insights:

While specific industry reports or announcements from these organizations could provide more detailed information on the negotiations and agreements, a comprehensive search of reliable sources revealed no information regarding the 2025 negotiations between the BVSU, Precious Metals Association of Schwäbisch Gmünd, and IG Metall in the precious metals industry. Obtaining such information would require access to industry-specific resources or direct communication with these organizations.

In the realm of the precious metals industry, this negotiation outcome between BVSU, Precious Metals Association of Schwäbisch Gmünd, and IG Metall has huge implications for both finance and business. The agreement includes significant enhancements in wage boosts and training allowances, which will directly impact the industry's future financial health and workforce development.