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Trump’s Tariff Blitz Shakes Europe, Hits Swiss Hard, and Rattles Global Economy
Trump’s Tariff Blitz Shakes Europe, Hits Swiss Hard, and Rattles Global Economy
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BTCCSquare news:
President Trump’s abrupt imposition of a 39% tariff on Swiss goods has sent shockwaves through global markets. Switzerland’s export-driven economy, heavily reliant on U.S. buyers for luxury watches and pharmaceuticals, faces immediate strain. Shares of Swatch, Richemont, Novartis, and Roche tumbled as investors priced in the new trade barrier.
The Ripple effects extended across European bourses, with Germany’s DAX dropping 1.7% and France’s CAC 40 shedding over 2%. The Stoxx 600 index plunged to July lows, underscoring how trade tensions continue to undermine the region’s fragile economic recovery.
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