Switzerland in ‘shock’ at 39% US tariff blow
New duty level on Swiss goods one of highest in the world and exceeds 31% rate outlined by Donald Trump in April
New duty level on Swiss goods one of highest in the world and exceeds 31% rate outlined by Donald Trump in April

European country hopes to reduce levy from 39% after business leaders stepped in to drive the talks forward

Trump’s trade representative Jamieson Greer says tariffs will be reduced to 15%, ending months-long dispute with Bern

Manufacturers and dealers are threatened by increased levy in a market worth more than $5bn

Bern offers to buy more American weapons and energy in attempt to persuade Washington to lower its import levies

Pharma groups among hardest hit after US president demanded price cuts

Surge in value of Swiss franc amid US-driven trade war and lagging inflation has complicated policymaking