Swiss Economy in Turmoil: Trump's 39% Tariff Sparks Trade Woes

Switzerland's economy has been dealt a significant blow after U.S. President Donald Trump introduced a 39% import tariff on Swiss goods, in a move sparking concerns over its export-driven economy. The levy, effective Thursday, poses a serious threat to Swiss businesses and has prompted urgent government discussions.

The Swiss President, Karin Keller-Sutter, returned from a failed negotiation with U.S. officials, signaling challenging times ahead. The proposed tariffs, much higher than those agreed with other global powers, have alarmed trade experts and industry leaders in Switzerland.

Economic analysts warn that if the tariffs persist, Switzerland could face growth stagnation, with major sectors like pharmaceuticals, machinery, and luxury goods at risk. Meanwhile, many businesses remain silent, wary of the impending impact on their future operations.

(With inputs from agencies.)