Source: International Business Times
Pharmaceuticals accounted for more than half of Swiss goods imported into the United States last year and now face a stiff 39 percent tariff rate AFP The Swiss government said Friday it would negotiate with the United States to try to avoid the 39 percent punitive US tariff rate that would ravage its key pharmaceutical industry. As part of a slew of new tariffs unveiled late Thursday on nearly 70 countries, Washington said it planned to charge a 39 percent tariff rate on Swiss goods, higher than the 31 percent rate that it had been threatening to implement. The new rate is set to go into effect on August 7, and would also prove painful for Switzerland's manufacturing and watchmaking industries.
