Swiss-U.S. Trade Tensions Escalate: Emergency Meeting Called

On the heels of a failed diplomatic mission in Washington, Switzerland's government has scheduled an emergency meeting to strategize on avoiding a steep 39% U.S. import tariff on Swiss goods. This move comes after Swiss President Karin Keller-Sutter returned home without securing a deal to prevent the tariff hike.

Sources report that U.S. officials rejected Keller-Sutter's proposal for a 10% tariff rate, thus prolonging negotiations that will continue but require more time for resolution. While President Trump has not closed off negotiations, the 39% tariff, one of the highest imposed during his presidency, remains in effect, taking a toll on Swiss exports.

The tariff increase has alarmed Swiss industries, as economic experts warn of potential harm to the nation's export-oriented economy and job market. With stocks under pressure, President Keller-Sutter acknowledged that any swift resolution is unlikely, particularly given Switzerland's trade surplus with the U.S.