Customs Duties: Emergency Meeting, Negotiations... How Is Switzerland Trying to Calm Trump's Ardor?
Decryption The countdown has begun for Switzerland, which has learned with horror that the United States will impose a 39% tax on its exports. With its economic future threatened, the country is doing everything it can to change this decision before the deadline scheduled for this Thursday.
Swiss President Karin Keller-Sutter (R) shakes hands with U.S. Treasury Secretary Scott Bessent during a bilateral meeting between Switzerland and the United States in Geneva, May 9, 2025. MARTIAL TREZZINI/AP/SIPA
Last Friday, in the middle of the national holiday, the announcement came as a shock. A 39% customs duty will come into effect on August 7th on Swiss products imported from the United States. This would make Switzerland the most heavily taxed country in Europe and the fourth most heavily taxed in the world. The repercussions of these taxes would also prove disastrous: a 1% drop in GDP and massive job losses are to be feared.
Since then, the country, in an unusual state of turmoil, has been trying every means possible to reverse this decision. On Monday, seven ministers interrupted their vacations, and the following day, President Karin Keller-Sutter and Economy Minister Guy Parmelin took the avi…
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