Switzerland Scrambles to Avert 39% Trump Tariff as Trade Talks Collapse

Swiss officials believed a trade agreement with the U.S. was imminent—until President TRUMP upended negotiations with a sudden tariff threat. The proposed 39% levy on Swiss goods sent shockwaves through Bern, where authorities now race against a tightening deadline to salvage the deal.

Diplomatic tensions flared after a contentious phone call between Trump and Swiss President Karin Keller-Sutter, though Swiss officials deny the discussion triggered the tariff announcement. Economic Minister Guy Parmelin signaled willingness to revise proposals but conceded time is running short.

The potential economic fallout looms large. "Such a high rate for many companies will just cut off trade," warned Jan Atteslander of Economiesuisse. With U.S. Trade Representative Jamieson Greer declaring rates "pretty much set," Swiss cabinet members will convene emergency meetings as Optimism fades.