The Swiss want to get along with Trump. They hang over them 39 % duties

The Swiss government is determined to agree on favorable conditions in terms of trade – it was stated on Monday. Last week, an introduction was announced 39 % customs duties on the export of Swiss products to the United States.

“Switzerland enters a new phase and is ready to present a more attractive offer, taking into account the fears of the US and striving to alleviate the current situation in terms of duties,” it was stated in Monday's statement, emphasizing Switzerland's direct foreign investment and research and development in the US.

In connection with the planned entry into the life of the new 39 % Ceals to import to the USA on August 7, the highest among industrialized countries, President Karin Keller-Sutter convened an extraordinary meeting of the ruling federal council to discuss further steps.

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Negotiators from the Swiss Economic Office have already contacted their American counterparts to find a solution. According to a clerk close to conversations, Switzerland focuses on obtaining a longer time than August 7, adding that every improvement of the current situation will be a success.

Washington's move was a surprise because the conversations before the date of August 1 looked promising. Thursday evening telephone conversation focused on Switzerland's commercial surplus in trade in goods from the USA.

The Swiss government emphasized on Monday that the surplus is not the result of any unfair commercial practices.

Keller-Sutter, who was criticized by the Swiss press at the weekend for letting Trump surprise her without an emergency plan, said that she would be ready to go to Washington at the last moment if she thought there was a chance to conclude an agreement.

“I do not exclude such a visit, but first both sides should get closer to each other in their positions,” said Schweiz am Wochenende.

“We estimate that this decision means a tariff shock at the level of about 23 pp. For the Swiss economy, exposing it to a risk of about 1 % of lowering GDP dynamics in the medium period,” said Jean Dalbard, an economist from Bloomberg Economics. (PAP Biznes)

KEK/ GOR/