This content was published on
June 3, 2026 - 13:35
2 minutes
(Bloomberg) — Switzerland said it remains in talks with the US after Washington proposed fresh tariffs on imports from major trading partners, adding that negotiations to finalize a broader trade deal are continuing.“Negotiations with the US on a trade agreement continue to go on,” a spokesperson for the economy ministry said, speaking on behalf of the Swiss government. “Switzerland is taking current developments into account in these negotiations. Switzerland aims for a negotiation outcome that will satisfactorily regulate economic relations between the two countries in the long term, regardless of legal and political developments in the US.”The statement followed the US’s proposal to impose tariffs of at least 10% on goods from 60 trading partners, the Trump administration’s biggest move to revive a protectionist trade agenda after earlier levies were struck down by the US Supreme Court.Under the proposal, imports from Canada, Mexico, the European Union, Taiwan and the UK would face a 10% tariff following a Section 301 investigation into goods allegedly produced with forced labor. Products from China, India, Japan, South Korea, Brazil and Switzerland would be subject to a 12.5% levy, according to the Office of the US Trade Representative.“Switzerland vehemently rejects the allegations raised in these investigations,” the economy ministry spokesperson said. “Swiss practices do not harm US manufacturers.”In a separate statement, Economiesuisse — Switzerland’s chief business lobby — also rejected the claims.“There is no evidence whatsoever that goods from the US have to compete in Switzerland with products that contain inputs derived from forced labor,” it said. “Nor is there any evidence that Swiss supply chains are being used to channel such goods into the US market or to distort competitive conditions to the detriment of American companies.”The business lobby also raised concerns over the proposal that new tariffs would be higher than those for the European Union.“The proposed differentiation between Switzerland and the EU would lead to unjustified unequal treatment,” it said.©2026 Bloomberg L.P.
