GENEVA: The Swiss government said Friday it would negotiate with the United States to try to avoid the tough 39-percent US tariff rate that would harm key industries.
As part of a slew of new tariffs unveiled late Thursday on nearly 70 countries, Washington said it planned to charge a 39-percent tariff rate on Swiss goods, higher than the 31-percent rate that it had been threatening to implement.
The new rate is set to go into effect on August 7, and would also prove painful for Switzerland’s manufacturing and watchmaking industries.
The Swiss government said it remains in contact with US authorities and “still hopes to find a negotiated solution,” in a statement on X.
“The Federal Council notes with great regret the intention of the US to unilaterally burden Swiss imports with considerable import duties despite the progress made in bilateral talks and Switzerland’s very constructive position,” it added.
