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BerneAmerican customs taxes: 15% for the EU and for Switzerland?
Switzerland should be set this week on customs taxes that will apply from August 1ᵉʳ.
On April 3, Donald Trump announced protectionist measures in the form of customs taxes.
AFPIt will be the surprise of August 1ᵉʳ for the Swiss economy in a few days. How much will Switzerland be given tax for its exports to the United States? The soap opera began on April 3 when Donald Trump announced 31% for our country, before giving a negotiation period until July. Since then, Swiss products have been taxed at 10%.
The suspense remains this Monday in Bern Monday. The weekend brought a news that could give a signal. Donald Trump had threatened the European Union on July 12 with a rate of 30%. But discussions with Ursula von der Leyen made it possible to reduce the bill by half. Basically, European exports will be taxed by 15%, while certain products will be exempt. But that still makes an increase compared to the current rate of 10%.
15%: floor rate?
On the Bern side, no one has specially reacted after the negotiations of this weekend in Scotland, but some must hope that our country knows the same fate as the EU with 15%. In any case, it seems that the American president considers these 15% as a floor rate. Switzerland must therefore expect to swallow this snake, but perhaps a larger up to 25%, even 30%, which would be a heavy reverse for Swiss diplomacy.
In early April, the American president had presented a table, where Swiss products were struck by a 31% tax in order to balance the trade balance between the two countries. According to American figures, the exports of goods from Switzerland to the United States is 63.4 billion Swiss francs. In exchanges between the two countries, the deficit recorded by the United States would increase to 38.5 billion francs.
A fiasco or a simple storm
With 15% from August 1, Ursula von der Leyen said that it is “a good agreement that will bring stability and predictability” for the European economy. But in France, Marine Le Pen said that this agreement was “a political, economic and moral fiasco”.
Certain economic sectors, especially in chemistry, have said they found this rate too high. “When you expect a hurricane, you are delighted with a simple storm. A new escalation could be avoided. However, the price to pay is high for both parties, ”reacted the VCI federation of chemistry in a press release, which represents industrial giants like Bayer or Basf.
