FT: Trump’s conversation with the Swiss president was a disaster for Bern
The day before the announcement of the new duties, US President Donald Trump had a conversation with Swiss leader Karin Keller-Zutter, which became a “disaster” for Bern. This was reported by the Financial Times (FT).
The conversation between the two heads of state lasted 30 minutes. The Swiss side expected Washington to impose a 10 percent customs duty, but Trump was only concerned about the trade deficit with the European country of $ 39 billion per year, the newspaper writes. As a result, Switzerland, whose duties Trump set at 31 percent, could not reach an agreement with the White House and received even tougher conditions.
“The conversation was unsuccessful in the sense that from the first minute, Trump made it clear that 10 percent was not enough. All he was focusing on was Switzerland stealing money from the United States,” the source said. As a result, tariffs for Switzerland amounted to 39 percent, which was the highest rate among European countries.
Swiss politicians are shocked by Trump
The Swiss authorities are confused by the tariffs imposed by Trump. “It’s unclear what the United States wants from us,” the unnamed MP said, stressing that Bern is in a “state of shock.”
Later, Markus Sperndli, a representative of the Swiss Ministry of Economy, listed the production sectors that were under attack due to the import duties imposed by the United States. They became the watch industry, the production of precision machines and tools, as well as the food industry.
“Given the high share of manufactured goods in Swiss exports to the United States, it is this sector that will be primarily affected by the increase in customs duties,” he said.
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