Highest US Tariff Among Developed Nations Takes Effect in Switzerland

Switzerland is now the most heavily taxed developed economy in the US trade reset. A 39% tariff, Washington's highest on any nation has now taken effect. Trump honed in on Switzerland's $38.5% billion surplus with the US in 2024.By comparison, other countries with trade surpluses Japan and South Korea accepted 15% duties on their products. Switzerland's neighbouring European Union, of which it's not a part of, was also taxed 15%. Now Trump's Swiss tariff hits luxury exports like watches, Nespresso, cheese a ...