Swiss president warns against tariff ‘alarmism’
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Swiss president warns against tariff ‘alarmism’
The Trump administration has imposed a 31%
tariff on imports from Switzerland. Swiss President Karin Keller-Sutter has warned against "giving in to alarmism" in an interview published on Saturday,
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“What we need now is to explain things around a negotiating table,” Keller Sutter told the La Liberté, ArcInfo and Le Nouvelliste newspapers.
“Switzerland has a lot to offer,” said the finance minister who also holds the rotating presidency role this year. She added that the country is an “important economic partner” and Swiss companies are among the leading foreign investors in the United States.
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Trump tariff shock: how Switzerland is positioning itself
“We are going to show our added value, which is not just economic,” she added, pointing out that Switzerland has also been offering its “good offices” services by representing US interests in Iran since 1980.
No option ruled out
In the negotiations with Washington, Keller-Sutter said she had no intention of “giving up” on agricultural protection and the rejection of genetically modified organisms (GMOs) in Switzerland, one of the criticisms levelled by US President Donald Trump.
“We want to analyse the situation in detail before considering any measures,” she noted.
But even if Switzerland is not planning any retaliatory measures for the time being, “we are not closing the door on any options at this stage”, she added.
Faced with the risk of Swiss companies relocating to the US to avoid customs duties, the Swiss president says it is still “premature” to take economic policy measures in Switzerland. “But the Federal Council is watching and will act if the need arises,” she said.
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Trump slaps 31% tariff on Swiss goods
A large proportion of the products that the US imports from the rest of the world, including Switzerland, have been subject to additional customs duties of 10% since Saturday at 6am (Swiss time). Countries that export more to the US than they import will be hit much harder from next April 9. For Switzerland, the tariffs will reach 31%.
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Adapted from French by DeepL/sb
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