US President Donald Trump's argument is straightforward: He believes trade partners of the United States benefit from broad access to the US market, while often restricting access to their own, creating persistent trade imbalances.

In the case of Switzerland, Trump balked at the Alpine nation's $48-billion (€41.2-billion) trade deficit, which he said showed Swiss firms were "taking advantage" of the US. For that and the country's apparent unwillingness to address the imbalance, he put a much higher tariff on Swiss imports than the European Union's 15%.

At 39%, the tariff rate is the highest among developed countries and may inflict major damage on trade with the US, Switzerland's most important trading partner. Around 18% of Swiss exports crossed the Atlantic last year.

Despite intense talks and a high-stakes visit to Washington by President Karin Keller-Sutter, Switzerland failed to clinch a framework deal like the EU, Japan or United Kingdom.

Keller-Sutter couldn't even get an appointment with Trump and instead met with US Secretary of State Marco Rubio, who doesn't oversee trade policy, and walked away empty-handed.

The tariff, which took effect on Thursday (August 7, 2025), hits luxury and consumer goods hardest, with watches, skin care and cosmetics products, precision instruments........

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