Switzerland has been rocked by economic turmoil after President Trump imposed a shock 39% tariff on Swiss imports to the US, the highest in Europe following a tense, “disastrous” call with Swiss President Karin Keller-Sutter. The move sent Swiss markets tumbling and sparked warnings of mass layoffs and a potential recession, especially in luxury goods, watches, and chocolate. Swiss officials and industry leaders have criticized Keller-Sutter’s handling of trade talks, prompting emergency negotiations and last-ditch efforts to offer the US a more attractive deal before the tariffs take effect.
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