Switzerland negotiates with the US to avoid a new 39% tariff on Swiss exports starting August 7th.

The Swiss government is negotiating with the US to avoid a new 39% tariff on Swiss goods, up from a previously threatened 31%, set to start August 7th. This tariff could severely impact key Swiss industries like pharmaceuticals, manufacturing, and watchmaking. The US is Switzerland's top export market, absorbing 18.6% of total Swiss exports, with pharmaceuticals accounting for a significant portion. Talks aim to find a negotiated solution to avoid these damaging tariffs.