The cabinet said after an emergency meeting it would improve its offer to Trump. Swiss officials rejected reports that the 39% rate was imposed because of the call between Trump and Keller-Sutter, the finance minister and current president under the country’s rotating system. Trump made it clear from the very beginning that he had a completely different point of view, that 10% tariffs were not enough,” the source told Reuters. “Faced with Trump, Keller-Sutter was surely too naive,” was the headline in the tabloid Blick, while 24 Heures said what should have been her “masterpiece” ended up as “the heaviest defeat of her political career”. The business minister said Trump was focused on the US trade deficit with Switzerland, which was Sfr38.5bn (£35.8bn) last year.

Source: The Guardian August 04, 2025 14:36 UTC