Swiss Manufacturers Face Major Setback Amidst High U.S. Tariffs
Swiss manufacturers are under threat as U.S. President Trump imposes a 39% tariff on Swiss exports. This move puts thousands of jobs at risk, particularly impacting the watch, jewelry, and chocolate sectors. While pharmaceuticals are temporarily spared, their future remains uncertain due to potential sector-specific tariffs.
Swiss manufacturers are sounding alarms as tens of thousands of jobs hang in the balance following President Donald Trump's decision to impose a 39% tariff. This marks one of the highest rates applied to any global trade partner.
Switzerland, heavily reliant on exports, counts the U.S. as its top market for goods like watches and chocolates. The pharmaceutical industry, a significant export to the U.S., remains temporarily untouched, but faces impending threats of separate tariffs.
The Swiss government's negotiations with the U.S. continue as both parties strive for a resolution. Meanwhile, industry representatives express concerns over the arbitrary nature of the tariffs, which starkly contrast with those applied to European Union countries.
(With inputs from agencies.)
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