European nation faces 39-percent tariff rate as Trump administration unveils new duties on dozens of trade partners.
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Switzerland says it will try to negotiate its way out of stiff United States tariffs, hours after US President Donald Trump’s administration shocked the European country by announcing plans to impose a 39-percent tariff rate on Swiss goods.
The Swiss government said on Friday that it was “disappointed” and would decide how to proceed after Trump unveiled the 39-percent rate, more than double the 15 percent being applied for most European Union imports into the US.
The new tariffs, which are set to go into effect on August 7, would prove painful for several key Swiss industries, including manufacturing and watchmaking.
