Switzerland: Continue negotiating with the United States to lower tariffs and avoid taking countermeasures

Switzerland plans to continue negotiations with the United States to lower the 39% reciprocal tariff that came into effect on Thursday (August 7th) and will avoid taking countermeasures.

Bloomberg reported that the Swiss cabinet issued a statement after an emergency meeting on Thursday, saying that the government "remains committed to consulting with the United States in an effort to lower these tariffs." The Federal Council is maintaining close contact with the US authorities and the affected industries.

Swiss President Keller Zuter flew to Washington on Tuesday (5th), hoping to persuade US President Trump to lower tariffs before they took effect. However, he failed to meet with Trump and returned empty-handed.

After arriving in Switzerland, she told reporters that Swiss negotiators remained in Washington, attempting to continue reaching an agreement.

The statement released by the government reaffirmed: "At present, Switzerland does not consider taking tariff countermeasures as such measures would impose an additional burden on the Swiss economy, especially pushing up the prices of imported goods from the United States."

The United States has imposed a 39% tariff on Swiss products, the highest among developed countries. At present, medicines and gold are exempted.

The statement also said that the Swiss government "will soon hold specific consultations with affected enterprises to explore possible assistance measures and continue to assess the necessity of taking further economic policy measures."