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News in English (USA) / 07.08.2025 / 22:00

Switzerland Faces Economic Crisis Amidst 39% US Tariffs

Switzerland is currently grappling with the shock of a staggering 39% tariff imposed by the United States, one of the highest in the world. This sudden escalation, affecting Swiss exports like chocolate, watches, and skincare products, has left businesses and officials in turmoil, fearing a worst-case scenario for their economy. The Swiss president has rushed to Washington for critical talks, seeking to negotiate a more favorable trade agreement after a call with Trump that resulted in this tariff blow. As sectors like gold refining and watchmaking face significant challenges, Swiss leaders express confusion and anger while urging for further discussions with US officials. Stakeholders are now preparing for the long-term implications of this trade disruption, with expectations of consumer costs rising sharply and major dips in the Swiss stock market already evident.
The New York Times, Bloomberg.com, The Economist, DW, The Straits Times, CNBC, Financial Times, Reuters, The Wall Street Journal, U.S. Department of State (.gov)