US tariffs putting 100,000 jobs in Switzerland at risk

United States tariffs of 39% on Swiss imports will directly affect 100,000 jobs in Switzerland, mainly in the watchmaking, machinery, metals, and food industries, warned the business umbrella organisation economiesuisse on Friday. +Get the most important news from Switzerland in your inbox For the Swiss business federation, "the consequences could be even heavier, as suppliers and service providers also suffer indirectly". On August 1, Washington announced that Swiss exports to the US would be subject to customs duties of 39% from August 7, citing the trade deficit between the two countries. Pharmaceutical products, the driving force behind Swiss exports, are exempt for the time being, but US President Donald Trump has promised tariffs of up to 250% if the pharmaceutical groups do not reduce their drug prices. "If customs duties were to be levied on medicines, many jobs in the pharmaceutical industry would also be affected", warned economiesuisse. + Swiss government working with ...