US Edition
Switzerland, the Land of Luxury Brands, Could See Prices Skyrocket From Trump's 39% Tariffs
SWITZERLAND, AUG 7 – The tariffs target Swiss manufacturing and watchmaking, potentially reducing Swiss GDP by 0.6 percent, while pharmaceutical exemptions remain under review, analysts said.
- Late Thursday, the United States imposed a 39% tariff on Swiss goods, effective August 7, exceeding the 31% threat from April.
- Before the August 1 at 6 a.m. Swiss time deadline, Swiss President Karin Keller-Sutter said she `was unable to reach an agreement` with Trump during final talks.
- The 39-percent tariff rate, if it remains in place, would knock around 0.6 percent off Swiss GDP, according to Capital Economics' Prettejohn.
- In a statement on X, the Federal Council noted it `still hopes to find a negotiated solution` and expressed `great regret` over US unilateral tariffs despite bilateral progress.
- Roche and Novartis plan to invest tens of billions of dollars in the United States as Trump warned major pharmaceutical firms to lower prices or face punishment, with tariffs up to 200.
89 Articles
89 Articles
There was no agreement between Switzerland and the USA: duties of 39 percent will apply from 7 August.
They are 39 percent, among the highest in the world, and have come unexpectedly
Sydney Morning Herald
Cheesed off: Swiss meltdown over Trump’s ‘incomprehensible’ tariff whack
Switzerland’s brand-name suppliers of luxury watches, jewellery, cheese and chocolate are reeling after a 39 per cent tariff was slapped on their exports to the US.
The average import tariff rises to 15.2%. From bilateral agreements comes a world full of imbalances
The Swiss Federal Government wishes to continue negotiations with the US administration, which intends to impose a 39% punitive surcharge on Swiss products imported into the United States from 7 August onwards. The Federal Council noted with great regret that the United States, despite the progress made in bilateral talks and the very constructive attitude of Switzerland from the beginning, intends to apply additional unilateral customs duties o…
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