US EditionSwiss Tensions Run High as Clock Ticks on U.S. Tariff Deadline
SWITZERLAND, AUG 3 – The tariff targets Swiss pharmaceutical companies and raises export costs by 39%, risking long-term business ties and weakening Switzerland's competitiveness in the U.S. market.
- On Friday, President Donald Trump set the tariff rate at 39% on Swiss imports, among the highest rates imposed globally.
- The U.S. Treasury Department added Switzerland to its watchlist for unfair economic and currency practices, after Thursday's talks with Karin Keller-Sutter failed to reach an agreement.
- Facing punishing tariffs after Aug. 7, Switzerland exported over US$60 billion last year, with Swiss watches, machinery, and coffee capsules at risk of increased costs.
- Swiss officials said the move upended negotiations, with Guy Parmelin calling Switzerland `especially mistreated` as investors brace for today’s market reopening.
- Keller-Sutter vowed to press ahead with negotiations at a Swiss Confederation founding event but warned that without a deal by Aug. 7, duties will create a `competitive disadvantage`.
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32 Articles
32 Articles
Karin Keller-Sutter is accused of mismanaging the negotiations on a day of Swiss stock market collapsesThe Swiss president does not reach any tariff agreement in one last contact with Trump The Swiss stock market has collapsed, the country's government has had to schedule emergency meetings and the population accuses its president Karin Keller-Sutter of improperly managing a crucial phone call with the White House. All this after Donald Trump ha…
·Spain
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The 39 percent drama: how it could get so far and how it could go on now.
·Zürich, Switzerland
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Total News Sources32
Leaning Left6Leaning Right2Center5Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 38%
15%
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