Who Ultimately Pays the Tariff Cost

We head to Switzerland, a small but very successful country with a population of just 9 million.

And now coping with some of US President Donald Trump’s highest tariffs.

In August the original threat of 31% tariffs was raised to 39%.

Two months on, efforts to negotiate with Washington have proved fruitless and the Swiss economy, regularly ranked as the most competitive in the world, is starting to slow down.

Produced and presented by Imogen Foulkes

(Swiss watch brands, including Zenith and Hublot, in a shopping arcade in Geneva, Switzerland. Credit: Getty Images)