US EditionSwitzerland will pursue further talks with US over crippling tariffs
SWITZERLAND, AUG 7 – Switzerland seeks to negotiate after the U.S. imposed 39% tariffs targeting exports worth billions, risking up to 0.6% GDP loss and threatening key industries, officials said.
- The Swiss government said on Aug 7 it will pursue more talks after President Donald Trump’s crippling 39% tariffs on Swiss goods, which threaten its export economy.
- Last week, Switzerland was stunned when President Donald Trump applied a steep tariff targeting its trade surplus with the U.S., surpassing rates negotiated by the European Union, Britain, Japan, and South Korea.
- After an 11th-hour Swiss effort failed, the 39% import levy took effect at midnight Washington time , exceeding Trump’s previous threat of a 31 tariff.
- Switzerland’s private sector urged the government to continue talks with Washington and Jean-Philippe Kohl warned “the death of the export business of our industry to the U.S.”
- Projecting ahead, economist Hans Gersbach estimates a 0.3% to 0.6% GDP loss over the next year if tariffs stay, with Swiss markets showing hope of a deal in the coming weeks.
50 Articles
50 Articles
Donald Trump's 39 percent tariff rate shocks Switzerland. The gold processing industry is expecting severe losses. The exporters of watches, pharmaceuticals and chocolate fear for their competitiveness in the US.
Why Are Tariffs on Switzerland So High?
Ever since President Trump shocked the Swiss with a 39 percent tariff, one of the highest rates the world, the big question in Zurich, Geneva, Basel and across Switzerland is: Why us? Known for its political neutrality, high-end watches and cutting-edge pharmaceuticals, Switzerland has long prized what it describes as an “excellent” relationship with America. But as Mr. Trump upends the global trading order, he has singled out countries that he …
Colorado Springs Gazette
Switzerland says tariff talks with US continue, gold industry concerned about bullion trade
By John Revill
Switzerland says tariff talks with US continue
ZURICH — Switzerland is continuing discussions with the United States about reducing potentially crippling import duties, its government said on Friday, as the country's gold industry warned exports of gold bars to the U.S. could be severely impacted by a…
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