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The Swiss watch trade was despatched reeling after US President Donald Trump threatened huge tariffs on imports to the largest marketplace for Swiss timepieces. In a speech Wednesday, Trump introduced sweeping tariffs on greater than 100 nations and buying and selling companions, together with China, India, and nations within the European Union. Trump confirmed a chart itemizing a levy of 31% on items imported to the US from Switzerland.
Trump mentioned tariffs of 10% can be imposed on all buying and selling companions whereas “‘reciprocal” double-digit tariffs can be levied towards a gaggle of particular person nations, together with Switzerland. As compared, Trump mentioned the US would slap tariffs of 34% on Chinese language items, 20% on European merchandise, 24% on Japan, and 10% on the UK. US inventory market futures tumbled in response to the announcement.
