Canada and Switzerland among the great losers. Although Donald Trump has signed the decree that establishes customs tasks for each commercial partner in the United States, the two countries inherit particularly prohibitive surcharges.
Switzerland in particular is directed by customs duties of 39% in its exported products throughout the Atlantic. A very high rate compared to competitors, compared, for example, in 15% that must be imposed on EU products, and which seems to have taken the authorities by surprise, especially because initially the administration of Donald Trump had mentioned a 31% surcharge.
The United States is a key partner for Switzerland. In 2024, they represented 18.6% of their exports of goods, according to customs statements. These are mainly pharmaceutical products, which represent 60% of all Swiss exports to the United States, deliveries of the technology industry (machines, electrical equipment and metals) for about 20% and clocks (8%).
United States, an essential partner of Switzerland
The commercial deficit in the United States with Switzerland approached 40 billion CHF in 2024 (43 billion euros and 49 billion USD), an indicator to which the US president pays special attention, seeing a sign of weakness of the United States. However, Switzerland is the sixth country in terms of direct investments in the United States, particularly in research and development.
“The Federal Council takes note with great regret of the will of the US common intention. Ironically: this announcement comes on Swiss national vacation.
Swiss officials, especially Karin Keller-Sutter, president of the Confederation, also Minister of Finance, had multiplied discussions with Washington to try to find common land. In vain. Again on Thursday, Karin Keller-Sutter had spoken with the US president, revealed in X. “The commercial deficit remains in the center” of the concerns of the US President had recognized Karin Keller-Sutter. This interview did not allow an agreement on the declared declaration of intention between Switzerland and the United States, “he added.
Canada in Trump’s sights
The bad news also for Canada whose products not covered by the Aceum trade are agreed (ex-allena) will be taxed at 35%, said the White House. This announcement, which denounces “the inaction and continuous reprisals of Canada”, intervenes that Donald Trump said that Canadian Prime Minister Mark Carney had arrived before the deadline of August 1, but that no conversation had taken place.
On Thursday, the US president had already tried that an agreement with Canada would be “very difficult” after Ottawa’s decision to recognize Palestine in September. In mid -July, he also attacked the Canadian government that “he retaliates with his own customs duties.” Washington finally criticizes Canada for not acting to reduce fentanyl traffic, a powerful opioid, intended for the United States and not to reduce migratory flows by the northern border.
Canadian Prime Minister Mark Carney said Friday that Ottawa was “disappointed” by Trump’s decision. To preserve sectors such as wood, steel, aluminum and car, not understood by the trilateral free trade agreement with Mexico and the United States, “the Canadian government will act to protect Canadian jobs, invest in our industrial competitiveness, buy Canadian and diversify our export markets,” he explained in a statement published in X.
Source: BFM TV
