Switzerland's Ambitious Trade Offer to Defuse Trump Tariff Tensions
Switzerland, facing a 39% U.S. import tariff that threatens its export-driven economy, is ready to make a more attractive trade offer to Washington. With the U.S. as its top export market, Switzerland aims to avert impending tariffs before the August 7 deadline, while avoiding countermeasures.
In the wake of looming 39% U.S. import tariffs on Swiss goods, Switzerland has pledged to deliver an enticing trade offer to Washington. This move comes as the Swiss Federal Council outlines plans to engage in further trade discussions to prevent devastating economic impacts.
Amid the crisis, Switzerland remains committed to pursuing fair treatment parallel to its main competitors. While declining to consider countermeasures, the Swiss government expressed surprise at being targeted by such high tariffs. The existing trade partnership has grown quadruply in two decades, making Switzerland the sixth-largest investor in the U.S.
Under pressure, Swiss authorities are exploring new trade propositions, including potential purchases of U.S. liquefied natural gas. The urgency grows, with extensive industry ramifications anticipated if negotiations fall through, threatening Swiss jobs and GDP growth.
(With inputs from agencies.)
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