Do you travel to Switzerland? Shopping can cost more as Donald Trump imposes 39% tariff | Today news

Prices for the eponymous Swiss watches, Swiss chocolate and Swiss cheese could skyrocket within a week due to US President Donald Trump’s trade war. Switzerland, home to the world’s most recognizable luxury brands, is now facing an upcoming 39 percent of US operating groups on Friday that both Swiss businesses and US consumers could pay the price. Trump signed an executive order on Thursday and placed rates on many US trading partners – the next step in his trade agenda that will test the global economy and alliances – which will come into effect next Thursday. The order applies to 66 countries, the European Union, Taiwan and the Falkland Islands. In Switzerland, officials did not reach a final agreement with the US, after Trump initially threatened a 31 percent tariff in April. Swiss businesses will now have one of the steepest export duties Laos, Myanmar and Syria have higher figures at 40-41 percent. The 27-member EU Bloc and Britain, meanwhile, negotiated 15 percent and 10 percent rates respectively. The figure was a surprise that the Swiss government spent on Friday – the country’s national day – from the news. Swiss President Karin Keller-Sutter said the 39 percent figure was a surprise, as negotiators took out an agreement with the Trump administration last month, which was apparently not approved by the US leader himself. “We will now analyze the situation and try to find a solution,” Keller-Sutter told reporters. “I can’t say what the result will be, but it will definitely damage the economy.” According to the US trade representative of the US goods with Switzerland, the 56.9 percent increase by $ 38.5 billion, according to the US trade representative’s office. Keller-Sutter said she believed Trump eventually chose the 39 percent tariff because the dollar figure rounded off 38.5 billion in goods deficit. “It was clear that the president was focused on the trade deficit and only this issue,” she said. The time is to look at watch companies for Swiss watch companies, whose products can already cost a timetable for an arm with price tags in the tens of thousands – if not the hundreds of thousands – next week. The 39 percent figure in particular has the Federation of the Swiss Watch industry echoed, as Switzerland got rid of all industrial goods in 2024 in 2024. “Since Switzerland has eliminated all customized duties on imported industrial products, there is no problem with reciprocity between Switzerland and the US,” the federation said in a statement. “The rates form a serious problem for our bilateral relationships.” Swiss watch exports have already faced a prolonged slowdown, with significant declines in the United States, Japan and Hong Kong, according to the Federation’s June figures, the most recent available. Swatch and Rolex declined to comment on Friday. Representatives of Patek Philippe, IWC and Breitling did not respond to requests for comment. Acid flavor for Swiss Chocolatiers Multinational Chocolatiers Nestlé and Lindt & Sprüngli said they have production lines in the US for US customers. But it is predicted that small and medium -sized Swiss businesses will suffer under the rates. Roger Wehrli, CEO of the Association of Swiss Chocolate Manufacturers. Also known as Chocosuisse, says Switzerland exports 7 percent of its chocolate production to the US. It is not just the 39 percent rate that is the problem. Once the manufacturers took into account the exchange rate between US dollars and Swiss Frank (USD1 to 1.23 francs), Wehrli said, it is close to a 50 percent increase in the cost of the Swiss businesses. And this is a large number to pass on to American consumers, if the already-smart margins are not reduced further. “I expect our industry to lose customers in the United States, and that sales volumes will fall a lot,” he told Associated Press. Wehrli said he wanted Swiss chocolate to sell to other markets around the world to make the difference. Still, he hopes US customers remember that the Swiss quality is beating cheaper amount. “I think even if prices for Swiss chocolate increase because of the very high rates, I think it’s worth buying Swiss chocolate,” he said. “It’s worth it to eat it really consciously and really enjoy it instead of eating a lot.” Tough pill for the Swiss pharmaceuticals Swiss Pharmaceuticals Powerhouse Roche says he works to ensure that his patients and clients worldwide have access to their medication and diagnostic amid the Trump tariff war. “Although we believe that pharmaceutical products and diagnostics of rates should be released to protect access to patients, supply chains and ultimately future innovation, we are prepared for possible rates that are implemented and trust in managing any consequences,” the statement says. The company announced in April that it plans to invest $ 50 billion in the United States over the next five years and create 12,000 jobs. The company already employs more than 25,000 people in the US. Meanwhile, Novartis, another major Swiss pharmaceutical firm, said in a statement that he was reviewing Trump’s executive order. “We are committed to finding ways to improve access and affordability for patients,” it said.