US Imposes 39% Tariffs Threatening Swiss Export Economy

Switzerland faces a severe economic challenge after the United States imposed a 39% tariff on Swiss goods, including luxury watches and high-end cheeses, threatening its export-driven economy. Swiss President Karin Keller-Sutter and government officials engaged in urgent talks with U.S. Secretary of State Marco Rubio but left without a deal, prompting an extraordinary meeting of Switzerland's Federal Council to strategize next steps. The Swiss government emphasized the need to continue negotiations with the U.S. but refused to accept any deal at an unreasonable price, as President Trump focuses on reducing the $40 billion U.S. trade deficit with Switzerland. Swiss industries are already responding by exploring contingency plans, such as relocating production to countries with lower tariffs and increasing manufacturing within the U.S. to mitigate the impact. The tariffs have raised concerns across Swiss firms about the future of their exports, with pharmaceutical companies, while currently exempt, remaining alert to further diplomatic developments.