Swiss-U.S. Tariff Talks: High Stakes for Export Economy
Swiss President Karin Keller-Sutter is set to meet U.S. Secretary of State Marco Rubio to negotiate a reduction in 39% tariffs on Swiss imports. Switzerland is urgently trying to mitigate the potential economic damage such tariffs might cause, affecting major exports like watches, machinery, and chocolate.
In a bid to avert severe economic repercussions, Swiss President Karin Keller-Sutter is meeting U.S. Secretary of State Marco Rubio this Wednesday. This high-profile meeting comes just before a staggering 39% tariff, set by the U.S., comes into effect on Swiss imports, putting Switzerland's key export sectors at risk.
The Swiss delegation, led by Keller-Sutter and Business Minister Guy Parmelin, landed in Washington Tuesday for urgent negotiations. They aim to reduce these heavy tariffs that could severely impact Swiss exports, particularly in watches, machinery, and chocolate, which are crucial to Switzerland's economy.
Switzerland, stunned by U.S. President Trump's tariff announcement, fears significant economic fallout. The United States is a critical market for Swiss products, and the new tariffs far exceed those the U.S. has set with the EU, UK, and Japan, threatening Swiss access to its primary overseas market.
(With inputs from agencies.)
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