Donald Trump's recent decision to impose 39% tariffs on Swiss products has caused shock in Bern and uncertainty in the Swiss economy.
Trump Resumes Trade War Against Switzerland
Donald Trump announced the introduction of 39% tariffs on Swiss products, citing an 'intolerable' trade deficit. This decision signifies a new level of tension in US-Swiss trade relations.
Switzerland's Reaction to the Tariffs
The Swiss Federal Council expressed 'deep regret' over Trump's decision and is taking steps to obtain a reprieve before the sanctions take effect on August 7.
Economy Under Pressure: Potential Consequences
Economists warn of a potential drop in Swiss annual growth to 0.3% - 0.6%. Industries such as watchmaking and machine tooling are already beginning to react negatively to the tax changes.
The trade war initiated by Trump against Switzerland threatens not only the economic stability of the country but also the very foundations of international trade.
