There are only three days left: customs duties: Switzerland desperately tries to limit the damage

From August 7, the American government will impose a 39% tax on Swiss goods – more than on exports from any other European country. The Federal Council barely has time to avoid the worst.

On July 31, the United States government adopted a decree imposing a 39 % punitive tax on Swiss exports, from August 7 – a rate significantly higher than the initial forecasts. This decision strikes Switzerland harder than any other European country. Savings evokes a “serious threat” and calls for a rapid reaction.

Donald Trump justifies this measure by the United States’s trade deficit vis-à-vis Switzerland, as well as by the lack of concessions from other countries. The president of the Confederation, Karin Keller-Sutter, replied that the American president goes so far as to accuse Switzerland of having “stolen money” in the United States-an accusation that the Federal Council categorically rejects.

The Federal Council wants to accelerate negotiations

The Minister of the Economy, Guy Parmelin, declared himself indignant in a declaration to the news agency Reuters, stressing that Switzerland was “particularly poorly treated”. According to the media, an extraordinary session of the Federal Council is scheduled for this Monday, during which new proposals will be examined.

It is particularly a question of additional investments in the United States, as well as an increase in imports of liquefied natural gas from the country. According to several media, trips from Guy Parmelin and Karin Keller-Sutter in Washington are not excluded.

During his speech on August 1, Keller-Sutter was combative: “We have never said the last word,” she said about the dynamics of negotiations with the American government. Jan Testerland of Economiesuisse told the SRF that it was now necessary to find pragmatic solutions and send clear signals to the Americans.

Tight deadlines and limited room for maneuver

There are now only three days left for the Federal Council for the decree to come into force. Even more complicated: without decision of the Parliament, the government can hardly offer new proposals.

The national councilor PLR Hans-Peter Portmann warned in an interview with the SRF against going beyond the existing mandate. The politician of the Elisabeth Schneider -Schneiter Center, on the other hand, asked for flexibility and pleaded for an extended room for maneuver – in order to avoid an economical escalation.

According to the SRF, several compromise avenues are envisaged, including an increase in imports of American products, a reduction in gold exports or even concessions on drug prices. However, it remains uncertain that these measures are enough to have Donald Trump’s position influenced.

Politics discusses countermeasures – or de -escalation

Many proposals circulate in the interior policy debate. PLR president Thierry Burkart offered Blick to open agricultural markets to American products. The national Portmann national councilor, on the other hand, requests more strict standards for third countries without a commercial agreement.

According to the Blick, representatives of the center openly evoke the introduction of reciprocal customs duties on American products such as cars, electronics or drinks. For their part, the Greens wish to question the purchase of the expensive F-35 fighter plane and offer increased taxation on American multinationals.

According to Reuters, the economist Hans Gersbach of the Zurich EPF also estimates that concessions on the price of medicines are realistic.

The economy sounds alarm

Swiss industry reacts with great concern. Swissmem alert on the risk of loss of tens of thousands of jobs. The Federation of Horlogère industry judges the measure “neither understandable nor justified”. Savings are speaking of a “very serious threat” for a strongly focused economy. According to Cash.ch, the president of the Swiss union union, Pierre-Yves Maillard, declared himself open to internal measures, such as the use of partial unemployment, in order to support the companies concerned.

Help calls also emanate regions. The Americano-Suisse Chamber of Commerce expressed its disappointment during an interview with several media. According to the Zurich Chamber of Commerce, exporting companies undergo considerable pressure, while the Bernese Union of Commerce and Industry calls into question the proportionality of these punitive customs rights.

According to a Reuters report, Hans Gersbach, professor at EPFZ, provides for a decline in GDP between 0.3 and 0.6 % if customs duties are maintained. An extension of these taxes to pharmaceutical exports could still accentuate the economic consequences.

We will know in the coming hours if the combination of diplomatic pressure and economic concessions will bear fruit. One thing is certain: the Swiss government has a short time, because the Hammer of Customs Rights will fall on Thursday.

AI notice: this article was translated from German using artificial intelligence.