Swiss Ministers Meet With Roche, Novartis Amid Tariff Crisis
(Bloomberg) — The Swiss government met with executives of Roche Holding AG and Novartis AG to discuss the pharmaceutical industry’s situation in light of US tariffs.
Switzerland was hit with a 39% tariff rate by the US this month, far higher than the 15% levied on the neighboring European Union. Pharmaceuticals are currently exempt from Donald Trump’s tariffs, but that might soon change, with the president warning he could announce measures on the sector.
Swiss Interior Minister Elisabeth Baume-Schneider and Economy Minister Guy Parmelin met Thursday morning with Roche chairman Severin Schwan and the president of Novartis’s international unit, Patrick Horber, the government said in an e-mailed statement.
It declined to provide details, saying the talks are confidential.
“The participants in the meeting exchanged their views on the current situation in the pharmaceutical industry against the backdrop of discussions about the tariffs imposed by the US,” the government said.
Both ministers are preparing a wider roundtable with the pharmaceutical industry, which is planned for September.
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