Switzerland flags importance of international law after tariff hit
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Swiss President Karin Keller-Sutter said her government took note of the US tariff decisions and would quickly determine its next steps.
PHOTO: REUTERS
BERN - The Swiss government on April 2 underlined the importance of respecting international law after US President Donald Trump put higher tariffs
Mr Trump presented figures saying the United States would apply a 31 per cent tariff on imports from Switzerland compared with 20 per cent on goods from the European Union and 10 per cent from Britain.
In a statement on X, Swiss President Karin Keller-Sutter said her government took note of the US tariff decisions and would quickly determine its next steps.
"The country's long-term economic interests are paramount. Adherence to international law and free trade remain core values," Ms Keller-Sutter said in her post.
The United States is Switzerland's single-biggest export market, and the government has been at pains to stress the Swiss contribution to the US economy. Switzerland is the sixth-biggest foreign investor in the United States.
Switzerland has abolished industrial tariffs but its agricultural sector is one of the most heavily subsidised among members of the Organisation for Economic Cooperation and Development (OECD) industrialised countries.
Analysts regard agriculture, which makes up a very small fraction of the Swiss economy, as one of the sectors most exposed to U.S. demands for countries to open up their markets. REUTERS
