Switzerland struck, Geneva worries

The announcement has made the effect of an economic earthquake: Swiss products will be taxed up to 39% when entering the American market, compared to 15% for the European Union. Therefore, In Geneva, economic circles are organized in an emergency. For example, Stéphanie Ruengsegger, director of general policy at the Geneva iron, reacts.

Three days after the new American commercial sanctions. Therefore, the director of the General Fer Geneva policy does not take off: “We are still incredulous in the face of the violence of the ad,” said Stéphanie Ruegsegger. Furthermore, Switzerland, alongside Brazil, is the only one to see its customs taxes also increase drastically.

The consequences? “This is extreme bad news for a very important sector for our country. for Geneva, and for the financing of public services,” she analyzes. Faced with this situation, several avenues of action are mentioned. switzerland struck, geneva worries “The Federal Parliament discusses an increase in RHT. The Federal Council could also alleviate taxation or business charges. We must also continue the free trade agreements, ”lists the director of general policy.

Towards a 31%scenario?

The Federal Council also attempted a rapid exit from the crisis, by offering a more attractive offer in Washington. But for Stéphanie Ruengsegger, “the decision goes to President Trump, whose character is unmanageable. The door is not completely closed, but by August 7, it will be difficult to negotiate anything. ”

A 31% agreement has been discussed in recent hours, but nothing is official. In the meantime. Switzerland is alone: “We are faced with an economic and political mastodon, with rules that escape traditional diplomacy.” Note that everything is possible by the entry into force of customs duties, scheduled for August 7.

In this tense context, the Geneva iron remains mobilized. “We are open switzerland struck, geneva worries to dialogue, as we were during the COVVI. We represent 29,000 companies, three quarters of Geneva private employment. We are ready to offer concrete solutions to lighten procedures, maintain innovation and preserve jobs, ”she concludes.