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2025-08-01 18:28:04
[A bolt from the blue! Trump's tariffs target Switzerland, could the manufacturing industry face its "darkest hour"?] ⑴ Trump announced a high tariff of 39% on Swiss imports, a move that shocked the Swiss government and manufacturers. ⑵ This tax rate is much higher than the 15% tax rate on most EU imports. ⑶ The head of Swissmem, the Swiss Manufacturers Association, said that this decision lacks a rational basis and will threaten tens of thousands of manufacturing jobs in the country. ⑷ Although Switzerland is the seventh largest investor in the United States, exporting approximately $80 billion worth of goods to the United States last year, its core export industries, such as watches, jewelry, and chocolate, will be severely impacted. ⑸ It is worth noting that Switzerland's pharmaceutical industry is temporarily exempt from the 39% tariff, but it still faces pressure from the United States to lower drug prices. ⑹ The Swiss government has stated that it will continue to work hard to find a solution through negotiations. ⑺ However, the new tariffs will take effect on August 7, leaving little time for negotiations between the two sides.
