Swiss Government Holds Emergency Meeting After US Imposes 39% Tariffs

Switzerland's government convened an emergency meeting after U.S. President Donald Trump imposed a 39% tariff on Swiss exports, the highest among developed countries, which threatens to severely impact Switzerland's export-driven economy. Swiss President Karin Keller-Sutter's last-minute trip to Washington failed to secure a reduction, as her proposal for a 10% tariff was rejected and she did not meet with Trump or top trade officials, only holding a meeting with Secretary of State Marco Rubio. The tariffs took effect immediately after the deadline, replacing a temporary 10% levy that had been in place since April. Swiss officials expressed hope that continued negotiations could eventually lead to a deal, though the timeline remains uncertain. The Swiss government is expected to formulate a strategic action plan to address the significant trade imbalance highlighted by the tariffs, while industry groups have called for urgent support measures to aid domestic exporters. President Trump defended the tariffs as a move to stop countries from taking advantage of the United States, emphasizing the resulting financial inflows to the U.S.