Trump slaps 39% tariffs on Swiss watches - here's what traders need to know
Key Points
- Switzerland missed the August 1st deadline for a US trade de...
Switzerland just learned that punctuality doesn't apply to trade negotiations. The land of luxury watches missed the August 1st deadline for a US trade deal, and now faces a crushing 39% tariff on exports unless they can strike a bargain by August 7th.
When Your GDP Depends on American Wallets
This isn't just about expensive timepieces. The US gobbles up nearly 19% of Switzerland's total exports, from pharmaceuticals to gold jewelry to precision machine tools. UBS Global Wealth Management is cautiously optimistic that Switzerland might secure a deal similar to the EU's arrangement, which...
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