Swiss President Karin Keller-Sutter expressed disappointment over the United States' imposition of a 39% tariff on Swiss exports, a rate considerably higher than what had been negotiated in prior discussions. The tariffs, announced by U.S. President Donald Trump following a phone call with Keller-Sutter, are expected to have a negative impact on the Swiss economy, particularly affecting the machinery and watch sectors, while pharmaceuticals remain exempt. Swiss officials and business leaders were surprised by the tariff decision, which has caused concern among investors ahead of the Swiss market reopening after a national holiday. The government is maintaining communication with U.S. counterparts and is expected to intensify efforts to secure a trade deal. Despite the tariffs, some investors view the move as a potential prelude to further negotiations. The tariffs are among the highest globally and have drawn attention to Switzerland's position amid broader trade tensions.