Switzerland Reacts to New US Tariffs That Threaten Its Economy

• US tariffs on Swiss goods have reached 39%, causing shock in the country.
• Swiss manufacturers of watches and chocolate are predicting serious losses due to the new tariffs.
• The Swiss government is aiming to find a solution by September 7, when the tariffs will come into effect.

Switzerland is facing new challenges due to the introduction of 39% US tariffs on its goods, which are among the highest tariffs in Europe. This move by US President Donald Trump indicates that prices for Swiss watches, chocolate, and other products could significantly increase.

According to recent data, Switzerland, which already has a significant trade deficit with the US, received an unexpected notification about the new tariff levels, which has shocked the government. Swiss President Karin Keller-Sutter expressed concern, noting that negotiations with the American side have not successfully concluded.

Trump signed an executive order affecting 66 countries, including the European Union, Taiwan, and the Falkland Islands. Switzerland had hoped for lower tariffs, but the new rates turned out to be significantly higher than anticipated.

For Swiss watch manufacturers, who are already facing declining demand, the new tariffs could become a serious problem. Chocolate producers have also indicated potential losses, as smaller companies may not be able to cope with such expenses.

Swiss pharmaceutical companies, such as Roche and Novartis, have announced their readiness to adapt to the new conditions, but they emphasize concerns about access to medical supplies for patients.

Currently, the Swiss government is aiming to find a solution by September 7, when the tariffs will take effect. There is a question of whether the country can maintain its position in the American market under such high tariffs.

Tags: Europe/Politics/Economy