Switzerland Seeks Relief Talks as U.S. Tariffs Hit 60% of Exports

Switzerland’s Federal Council said it will press ahead with negotiations aimed at rolling back the import tariffs Washington imposed on Swiss goods on 7 August. The cabinet warned that the duties, which affect almost 60 percent of shipments to the United States, are already placing a substantial strain on the export-oriented economy. While Bern is preparing relief measures for affected companies and reviewing wider economic policy options, it has ruled out retaliatory tariffs for now. Officials added that they will use all powers under existing and forthcoming legislation to mitigate the burden on business if the levies remain in place for an extended period, noting that the economic outlook could deteriorate further compared with June forecasts.