Globally, President Trump’s tariffs have shocked people, and governments are rushing to reach an agreement to appease him. Some have succeeded: the UK entered first with a tempting 10% discount, followed by the EU with 15%.
Though not as much as they had expected, it was nevertheless more than they were paying prior to Mr. Trump’s “liberation day. Then, consider Switzerland, which has been subjected to 39% punitive tariffs and has failed to convince the US president to change his mind thus far.
However, Switzerland’s economy is consistently rated as the most inventive and competitive in the world. Additionally, it is one of the largest investors in the United States, generating 400,000 employment, according to Swiss business leaders.
The Swiss government has been making valiant attempts to bargain with Washington since the announcement of the duties on August 1st, which are the highest in Europe and the fourth-highest globally, but to no avail. It appears that the US president has moved on to other things.
Switzerland cannot afford to lose the US market, which accounts for about 17% of all Swiss exports. The once-strong Swiss economy is now suffering as a result of the tariffs. Economic growth is slowing, and it seems certain that important industries will lose jobs.
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