39 % Tax: Is Swiss GDP preparing to fall in the face of American customs?

Switzerland in an extraordinary duty

Unlike the European Union, which negotiated 15 % of duties with the United States, Switzerland is the subject of a much higher surcharge. Announced this Friday Donald Trump is 39 %. A very high rate that led to an emergency meeting of Swiss ministers yesterday.

In principle, new customs obligations will be applied from August 7. Or a delay that leaves very little space for the maneuver to the Swiss authorities.

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The United States President believes that Switzerland ”stolen“United States, Due to the business deficit, 40 billion Swiss francs are approachingS. As a reminder, Switzerland is one of the largest European exporters, especially in the pharmaceutical sector.

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Consequences for Swiss GDP?

So high customs duties could affect the Swiss GDP. According to Hans Gersbach of the University of Zurich, the impact would be 0.3 to 0.6 % of GDP and could exceed 0.7 % if the pharmaceutical industry was affected.

The pharmaceutical industry is historically the subject of exemption from tax for exports to the United States. Possible questioning of this state is therefore shocks for this industry. In addition to this area, Particularly affected would also affect watches (luxury watches) and chocolate industry.

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It is remarkable that Switzerland that appears to be a possibility to did not endanger the United States of Represques. On the contrary, the Federal Council reminds that a trade deficit ”In no case is the result of unfair commercial practices». He hopes to find an agreement in the extremis by Thursday, according to the President of the Swiss Confederation Karin Keller-Subter.

For federal advisor Guy Parmelin is to show the white leg:

The calendar is tight, it may be difficult to get something up to 7th, but we will do everything we can to show our good will and check our offer.

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War of customs duties in the process of winning?

Swiss counted with a privileged relationship that historically exists between Switzerland and the United States. He hoped to quickly sign an agreement in the United Kingdom. But it was without relying on the reversals of the President of the United States that announced this strike this weekend.

🌐 In the reports – the customs duty of Donald Trump: Summary of what will change from August 7

War of Customs Rights Donald Trump In any case seems to be in the process of winning. The US President managed to fold the European Union, which in the United States received 15 % of duties and investment obligations. As far as China is concerned, it would be in the last stage of the discussion about the agreement.

Source: Reuters, BFM