US EditionOn Raises Full-Year Outlook, Shrugs Off Tariff Impact
The 39% tariff targets Swiss luxury goods amid U.S. trade deficit concerns, risking a 0.3-0.6% GDP drop and impacting over 32,000 jobs in the Swiss watch industry.
- The Trump Administration announced on August 1st a 39% tariff on Swiss imports, citing a $39 billion trade deficit with Switzerland.
- Swiss gold processing has become central in the trade dispute as Washington claims it inflates the $39 billion deficit.
- In Neuchâtel, tariffs from August 7 directly affect luxury products such as expensive watches, cosmetics, precision instruments and chocolate, impacting over 32,000 jobs.
- Their last-minute trip to Washington, two days before August 7th, yielded no results after meeting only with Secretary of State Marco Rubio.
- In the coming weeks, Georges Kern remains confident of a constructive agreement despite uncertainties, while Economist Hans Gersbach projects Switzerland’s GDP could fall by 0.3 to 0.6 percent.
Insights by Ground AI
Does this summary seem wrong?
13 Articles
13 Articles
The president of the trade union federation, Pierre-Yves Maillard, explains in an interview how he wants to protect Swiss workers from the consequences of US tariffs.
·Zürich, Switzerland
Read Full Article
On Holding's Growth Boosted by Federer - PressReach
On Holding AG, the Swiss sports shoe company backed by tennis legend Roger Federer, has reported a significant increase in sales, prompting the company to raise its earnings outlook. The company’s innovative approach to footwear design and marketing has captivated consumers, leading to an impressive market performance. In the latest quarter, On Holding’s sales surged, driven by a robust demand for its performance running shoes. The company’s str…
Coverage Details
Total News Sources13
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 17%
Factuality
To view factuality data please Upgrade to Premium
