Switzerland to hold 'extraordinary meeting' on US tariffs
The rate is one of the highest imposed on countries trading with the United States and jeopardises entire sectors of the export-heavy Swiss economy, notably watchmaking and industrial machinery, but also chocolate and cheese.
"Tariffs: After its delegation returns from the USA, the Federal Council will hold an extraordinary meeting in the early afternoon. A statement will follow after the meeting," the government posted on X.
Swiss President Karin Keller-Sutter and Economy Minister Guy Parmelin had gone to the United States but were only able to meet US Secretary of State Marco Rubio and not Trump.
After the meeting on Wednesday
Switzerland has been hit particularly hard by the new US tariffs on products from dozens of economies, which came into effect on Thursday.
Competitors of Swiss companies in the EU will only see their products taxed at 15 per cent, and those from the United Kingdom at just 10 per cent.
The wave of US tariffs taking effect on Thursday does not cover sectors that are being separately targeted by US investigations such as pharmaceuticals, a key sector for Switzerland.
This threatens tens of thousands of jobs in the Alpine country. Trump justified his action - which took Swiss authorities by complete surprise - by the fact that Switzerland has a trade surplus of several tens of billions of dollars with the United States.
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