Switzerland said it would continue to negotiate with the US to reduce tariffs from 39%that they started on Thursday.
“The government remains firmly determined to discuss the US to limit these tariffs as quickly as possible,” he said in a statement after an emergency meeting on Thursday. “The Federal Council maintains close contact with the US authorities and affected industries.”
President Karin Keller-Sutter returned from Washington with an empty hand, trying to influence Donald Trump before the tariff started on Thursday. The two -day emergency trip turned into humiliation when she was denied a meeting with her counterpart and instead spoke only with Foreign Minister Marco Rubio, whose department does not carry out business negotiations on bilateral agreements.
The Government “will also soon be involved in detailed discussions on potential measures to assist Swiss companies and continue to assess the need for further economic policy events”, according to the statement.
39% of exports from the Swiss luxury watches after the Nespresso-coffee capsule is the largest of the developed countries and compared to only 15% in the neighboring European Union. Pharmaceuticals and gold are still liberated.
While drugs are excluded from business obligations – the average rate below 25% – bets for Swiss companies that are large players on the US market, are high and the extent of the obligation has exceeded all expectations.
Cooperative attitude encounters the cross pressure of Swiss politicians on Thursday to cancel the order of thirty F-35A fighter aircraft from the US defense conglomerate Lockheed Martin Corp. in response to tariffs.
The level of tariffs after the negotiation stunned the Swiss Swiss. But things came to the head at the end of last week when Trump threw an agreement to negotiate a framework for a call with the Keller trail. He was particularly angry with the Swiss bilateral surplus with the US last year about $ 38.5 billion.
If the 39% rate came into force across the album – including drugs -, according to Jean Dalbard of Bloomberg Economics, it would expose up to 1% of Switzerland’s economic production. Switzerland is home to the pharmaceutical giants of Novartis AG and Roche, which holds AG.
This article was generated from an automated news agency without text modifications.
(Tagstotranslate) Switzerland
