Swiss Push Talks With Trump on 39% Tariff, Not Retaliation
Karin Keller-Sutter departs the US Department of State in Washington, DC, on Aug. 6.
Photographer: Drew Angerer/Getty ImagesSwiss leaders refrained from implementing countermeasures against sweeping US tariffs and instead want to focus on further talks to find a solution with Donald Trump’s administration.
The 39% surcharge that kicked in on Thursday is the biggest among developed countries and compares with just 15% on the neighboring European Union. So far, a glimmer of hope for the Swiss is that key export goods including pharmaceuticals and gold are exempt, which brings the average rate below 25%, according to Bloomberg Economics.