The US has announced a 39 percent tariff on Swiss imports, which is significantly higher than the previously set 31 percent. This tariff exceeds the 15 percent rate agreed upon for EU goods. The Swiss government has responded with regret, indicating their continued desire for a negotiated solution with the US. The decision is viewed as harmful to Switzerland, particularly affecting its manufacturing and watchmaking industries. The political reaction in Switzerland has been strong, with parties expressing concern over the implications for US-Swiss relations and free trade.
The US announced a 39 percent tariff rate on imports from Switzerland, significantly higher than previous tariffs and those placed on the EU.
Switzerland's Federal Council expressed regret over the US's decision, stating that they seek a negotiated solution to lower customs duties.
The centre-right Radical-Liberal Party called Trump's decision a catastrophe, asserting it attacks Swiss prosperity and sabotages longstanding US-Swiss relations.
The new tariffs will take effect on August 7th, negatively impacting Switzerland's manufacturing and watchmaking industries.
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