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August 11, 2025

America’s tariff avalanche catches Switzerland unawares

America’s tariff avalanche catches Switzerland unawares

THE FIREWORKS in celebration of the Rütlischwur, the foundational oath of Switzerland on August 1st 1291, had just subsided when Donald Trump announced that Swiss exports to America would soon face tariffs of 39%. It came as a shock to Europe’s most stubbornly independent country. After consulting with businesses and holding a crisis meeting on August 4th, the government announced it will make America a more attractive offer.

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