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Switzerland Braces as 39% U.S. Tariff on Exports Takes Effect After Failed Last-Ditch Talks

Swiss cabinet convened an extraordinary session to chart its response, weighing potential concessions on energy and defense purchases to revive talks with Washington

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Swiss President Karin Keller-Sutter talks to the medias after a news conference, after meeting in separate bilateral meetings with Chinese and U.S. delegations ahead of trade talks in Geneva, Switzerland, May 9, 2025. REUTERS/Denis Balibouse/File Photo
U.S. Secretary of State Marco Rubio reacts as he testifies at a Senate Foreign Relations Committee hearing on U.S. President Donald Trump's State Department budget request for the Department of State, on Capitol Hill in Washington, D.C., U.S., May 20, 2025. REUTERS/Jonathan Ernst/File Photo

Overview

  • U.S. tariffs of 39% on Swiss goods go into effect Thursday, ranking among the steepest duties imposed on any major trading partner
  • President Karin Keller-Sutter and Economy Minister Guy Parmelin returned from Washington after meeting only with Secretary of State Marco Rubio and without a meeting scheduled with President Trump
  • The Swiss Federal Council held an emergency meeting to determine next steps following the delegation’s inability to secure tariff relief
  • Washington has indicated that lower tariffs could depend on Swiss commitments to buy more U.S. energy and defense products
  • Key export sectors—including watches, machinery, chocolate and cheese—now face steep hurdles as businesses brace for revenue losses and potential job impacts