The Switzerland government celebrates a special meeting on Trump's huge tariff on Swiss imports

The Switzerland government will celebrate an extraordinary meeting of the Cabinet on Monday to discuss its 39% rate response from President Donald Trump on Swiss imports, which threatens to inflict strong damage to his luxury goods industry dependent on the United States.
Switzerland was stunned on Friday after Trump arrived in the country with one of the highest rates in his world commercial restart, and industry associations warn that tens of thousands of jobs were at risk.

The tasks are scheduled to enter into force on Thursday, giving Switzerland a small window to reach a better treatment.

Industry leaders and politicians were struggling to understand why the country was indicated: the EU, Japan and South Korea, for example, face 15% of the encumbrances, but Switzerland had a Swiss commercial surplus (48 billion dollars) with the United States last year.

Swiss President Karin Keller-Sutter told Reuters on Friday that Switzerland had given us practically free access to his market, and Swiss companies had made very important direct investments in the United States.

“The president (Trump) is really focused on the commercial deficit, because he believes that this is a loss for the United States, that every year with Swiss exports, the United States loses, well, 38.5 billion (Franks),” he told Reuters. Additional measures would have to be discussed by the complete Swiss cabinet, he said.

“I'm not ready to make an offer today. I think we have to discuss that in the government,” said Keller-Sutter.

The Swiss officials have rejected the reports that the highest tariffs were imposed than expected after a telephone call of bad gear between Keller-Sutter and Trump on Thursday night.

The government is open to review its offer to the United States in response to the tariff rate, which must enter into force on August 7, Guy Parmelin business minister said on Sunday. He said the options included Switzerland that bought liquefied natural gas or investments of Swiss companies in the United States, its largest export market for pharmaceutical products, watches and machinery.

An index of Swiss blue chip actions reached its lowest level since mid -April on Monday, since actions in banks, luxury retailers and pharmaceutical companies fell. The SMI index was the last 0.6% in the day, compared to a 0.6% increase in the Stoxx 600 regional index.

In Zurich, high -end watch actions such as Richemont and Swatch fell into volatile trade. Richemont's shares decreased 0.8%, since it had fallen up to 3.5%before, while Swatch actions fell 0.7%, as it had dropped to 5%. Possible American tariffs on pharmaceutical imports are considered separately. On Monday, the Swiss Francia was the largest currency of worse yield against the dollar, which was the one that lasted 0.7% to 0.809 francs, not far from the maximum of a month of Friday.