Switzerland Faces Economic Blow from Trump's Tariff War
Switzerland held an emergency meeting after U.S. President Trump imposed a 39% tariff on Swiss exports, threatening the export-heavy economy. Despite efforts to negotiate, no deal was reached. These tariffs are expected to damage the Swiss economy, risking jobs and slowing growth, as trade talks continue.
Switzerland's government scrambled on Thursday for an emergency meeting following the surprise implementation by U.S. President Donald Trump of a 39% tariff on Swiss exports, which could significantly harm Switzerland's export-oriented economy.
Despite a hasty diplomatic mission to Washington, Swiss President Karin Keller-Sutter returned without a deal as her proposal of a 10% tariff was turned down. While trade dialogue will proceed, striking an agreement remains uncertain.
Economists warn that these extreme tariffs could stagnate economic growth, threatening jobs and disrupting longstanding trade partnerships, as businesses call for continued talks to ease these levies.
(With inputs from agencies.)
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