World Business Report Swiss businesses shocked by 39% tariffs
Aug 1, 2025
Switzerland faces a shocking 39% tariff that has left businesses reeling after failed negotiations with the U.S. Meanwhile, Taiwan and Lesotho celebrate successful trade deals, showcasing different national responses to the current economic climate. The Edinburgh Festival Fringe kicks off, promising a vibrant atmosphere and a significant boost to local businesses as millions flock to the city in August. Insights from industry leaders highlight the hurdles and opportunities arising amidst fluctuating trade dynamics.
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Shock from Swiss 39% Tariffs
- Swiss businesses were shocked by sudden 39% US tariffs after constructive talks collapsed.
- The expectation was a 15% tariff, signaling unpredictability in US trade policy.
US Prioritizes Larger Trade Deals
- US negotiation focus shifted to bigger trade partners leaving Switzerland sidelined.
- Switzerland may see 39% tariff temporarily, aiming for a deal to revert to EU levels later.
Swiss Export Sectors Explained
- Switzerland's exports to the US focus on gold, Nespresso capsules, pharmaceuticals, watches, and farming.
- Farming sector export focus will drive Swiss negotiation efforts amid tariff impact.