It’s not often that Switzerland finds itself at the sharp end of a global trade dispute. Even less often is it singled out with punitive action from a major trading partner. But this month, the US imposed a 39% tariff on most Swiss goods after a seven-day grace period lapsed. It is a rate more than double that of the one levied by the Trump administration on the EU, and far steeper than those applied to the UK or Canada. In fact, it is the highest tariff on any developed country. Recriminations and deliberations are now sweeping Switzerland as the government plots its next move. Last week, Bern vowed to continue discussions with Washington. It is rare to have so much international news about this small, export-reliant country of nine million people – especially on trade. The surprise wasn’t that the US took action. Few foreign partners have escaped the levies driving President Donald Trump’s economic agenda. Switzerland, having a CHF48.5 billion ($60 billion) goods surplus with the ...
