Aug 3, 12:32 PM

Trump Slaps 39% Tariff on Swiss Imports; Bern Seeks Quick Deal

President Donald Trump has imposed a 39% tariff on all Swiss goods, surprising officials in Bern and giving Switzerland one of the highest levy rates in Washington’s escalating global trade reset. The move follows months of negotiations that Swiss policymakers believed were nearing a compromise. Business Minister Guy Parmelin said the government is prepared to revise its offer to the United States and will hold an emergency cabinet meeting on Monday, ahead of the tariffs’ scheduled implementation on 7 August. Options under discussion include additional Swiss purchases of U.S. liquefied natural gas and new investments by Swiss companies in America. Parmelin and President Karin Keller-Sutter are also willing to travel to Washington if talks gain traction. Economists warn the tariffs could shave 0.3%–0.6% off Swiss output and tip the export-driven economy into recession, a hit that could exceed 1% if pharmaceuticals are ultimately included. Industry associations say tens of thousands of jobs are at risk, and Nomura expects the Swiss National Bank to respond with a 25-basis-point rate cut to −0.25% in September. Shares in Zurich are expected to open lower on Monday after the National Day holiday, with commodity and luxury-goods names in focus. The dispute is already rippling through financial markets. Commodity traders are bracing for added volatility, and tariff anxiety is prompting some European companies to shift capital-markets work away from Wall Street lenders; nearly half of this year’s euro-bond issues from non-U.S. firms have excluded America’s biggest banks. Investors view the Swiss tariff salvo as both a negotiating tactic and a fresh source of uncertainty for global trade.

#Donald Trump #Swiss #Bern #Switzerland #Washington #Guy Parmelin #United States #America #Parmelin #Nomura #Swiss National Bank #Zurich #National Day holiday #European #Wall Street

Written with ChatGPT .

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Trump Slaps 39% Tariff on Swiss Imports; Bern Seeks Quick Deal

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