The Swiss government is set to convene an emergency meeting this afternoon after failing to dissuade the United States from imposing steep new tariffs on Swiss exports. The 39% duty, one of the highest introduced by the Trump administration, came into effect earlier today and poses a serious threat to major sectors of Switzerland’s export-driven economy.
Swiss President Karin Keller-Sutter and Economy Minister Guy Parmelin recently travelled to Washington in a last-ditch effort to avert the tariffs. However, their diplomatic mission yielded only a meeting with US Secretary of State Marco Rubio, rather than President Donald Trump. The Swiss delegation described the talks as “friendly and open,” but ultimately unsuccessful.
“The Federal Council will hold an extraordinary meeting in the early afternoon. A statement will follow after the meeting,” the government announced on social media platform X.
The newly implemented tariffs apply to a broad range of Swiss products, including iconic exports such as luxury watches, industrial machinery, chocolate, and cheese. Compounding Switzerland’s frustration is the fact that similar goods from the EU are subject to just a 15% tariff, while the UK secured an even lower 10% rate.
The US move comes amid a sweeping recalibration of American trade policy, with President Trump citing Switzerland’s substantial trade surplus with the US—amounting to tens of billions of dollars—as justification for the measure.
According to the US Customs and Border Protection agency, goods already in transit to the US before the tariff deadline can still enter under previous lower duties until October 5. However, the sharp increase from the previous 10% base rate will now apply to all other imports.
Switzerland is not alone in facing stiffer US trade terms. Canada is now subject to a 35% tariff, India 25%, and Brazil a steep 50%. Meanwhile, countries such as Japan, South Korea, and the EU have secured reduced rates following separate trade agreements with Washington.
India, which was also hit with a 25% additional tariff this week due to its purchases of Russian oil, has strongly criticised the US move. Prime Minister Narendra Modi has vowed not to compromise on the interests of Indian farmers and is reportedly preparing to strengthen ties with China, signalling a potential shift in strategic alliances.
As pressure mounts globally, Brazil’s President Luiz Inacio Lula da Silva has called for BRICS nations to coordinate a response to the widening US tariff campaign.
With key Swiss industries now facing a competitive disadvantage in the American market, the outcome of today’s extraordinary Federal Council meeting will be closely watched by both domestic stakeholders and international partners.
