Swiss president rushes to Washington to seek deal averting tariffs
Summary
Swiss President Karin Keller-Sutter traveled to Washington D.C. with other officials to negotiate with the U.S. about a new 39% tariff on Swiss exports, such as chocolate and machinery. These tariffs are significantly higher than those for the EU and the UK, and Switzerland wants to improve the trade situation with the U.S.Key Facts
- Switzerland's president, Karin Keller-Sutter, visited Washington, D.C. to discuss high tariffs imposed by the U.S.
- The U.S. announced a 39% tariff on Swiss goods, effective Thursday.
- This tariff is much higher than those on European Union and British goods.
- Switzerland had expected a lower 31% tariff based on earlier U.S. announcements.
- Swiss goods like machinery and chocolates are affected, but pharmaceuticals are not.
- The U.S. and Switzerland have a trade imbalance, with the U.S. importing more from Switzerland.
- Swiss companies face high tariffs, second only to countries like Laos and Syria.
- Swiss businesses were surprised by the move and want it reconsidered.
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