The Swiss government appears determined to present a more attractive trade proposal to the United States, following Washington‘s surprise announcement of an additional 39% tariff on a large percentage of Swiss exports.

In an official statement on Monday, the Swiss government said that it enters this new phase ready to present a more attractive proposal, taking into account US concerns and seeking to mitigate the current tariff situation.

The decision was taken by the Federal Council following the announcement onJuly 31 that about 60% of Swiss exports to the US would be subject to additional tariffs of 39% from August 7.

The new tariffs put Switzerland at a disadvantage compared to other major economic partners of the United States. The European Union and Japan face tariffs of 15%, while the United Kingdom faces only 10%.

Despite the tension, the Swiss government has stressed that it is not considering countermeasures at this time.

Close and long-term economic relationship

Switzerland and the US have maintained close economic ties for decades, with bilateral trade having quadrupled in the last twenty years. Switzerland is currently the sixth largest investor in the United States and ranks first in investment in research and development.