Policy Change - Switzerland is likely to abolish a century-old real estate tax [1] - A new tax targeting second homes, such as mountain chalets, may be introduced to compensate for budget deficits [1]

Trade Policy - The US will impose a 39% levy on imports from Switzerland [1]

Trade Relations & Geopolitics - The report highlights a potential 50% levy imposition on Brazil by Donald Trump, indicating a risk of escalating trade tensions [1] - The action suggests that no country is immune to potential economic repercussions based on domestic political affairs, creating uncertainty in international trade [1]