The forthcoming tariffs, scheduled to be enforced on August 7, are expected to have a detrimental effect on several key Swiss sectors, particularly manufacturing and watchmaking. The Swiss government, in a social media statement, indicated it is still in communication with US authorities and “remains hopeful of a negotiated resolution.” The statement added, “The Federal Council notes with deep regret the US’s intention to unilaterally impose significant import duties on Swiss imports, despite progress in bilateral discussions and Switzerland’s constructive stance.”
On Thursday, the Trump administration announced a fresh wave of tariffs on many of its trading partners, citing a “continued absence of reciprocity in our bilateral trade relationships” as the rationale. The tariffs were initially set to begin on Friday for nearly 70 nations, but this has been postponed to August 7. This extension provides these countries with a few extra days to seek an agreement with Washington, aiming to either avert or decrease their specific tariff rates.
Al Jazeera’s Kimberly Halkett, reporting from the White House, noted that “everyone had been focused on August 1… and now there is a new deadline.” She explained, “The reason is so that there can be a little bit more time and breathing space to get some more deals done. There were a few that were very close but didn’t quite make the deadline, and so the White House [said] this will allow… for these final agreements to be worked out.”
In recent weeks, Trump had negotiated trade frameworks with the EU, Japan, South Korea, Indonesia, and the Philippines, allowing the US president to declare successes as other countries sought to mitigate his threat of even higher tariffs. He mentioned on Thursday that agreements had been reached with other nations but did not specify which ones.
When questioned on Friday about whether countries were satisfied with the rates established by Trump, US Trade Representative Jamieson Greer replied, “A lot of them are.” The new tariffs also include a 35% duty on numerous Canadian goods, 50% for Brazil, and 20% for Taiwan. Taiwan has described its rate as “temporary,” anticipating a reduction.
The Trump administration justified the 39% tariffs on Switzerland by citing the European country’s alleged refusal to make “meaningful concessions” by lowering trade barriers. A White House official stated on Friday, “Switzerland, being one of the wealthiest, highest-income countries on Earth, cannot expect the United States to tolerate a one-sided trade relationship.”
Swissmem, a group representing the mechanical and electrical engineering sectors, expressed its shock at the US’s action. “It’s a massive shock for the export industry and for the whole country,” said Deputy Director Jean-Philippe Kohl. He added, “The tariffs are not based on any rational basis and are totally arbitrary… This tariff will hit Swiss industry very hard, especially as our competitors in the European Union, Britain and Japan have much lower tariffs.”
