Switzerland is vulnerable as the US is its largest single export market, with products including watches to medicinal products
Switzerland has warned today that the US and Europe’s tariff dispute should not be escalated, while the country’s leading official is visiting Washington to meet with representatives from the Trump government.
Helene Buddliger Artena, who is head of the State Secretariat for Economic Affairs (SECO), traveled to the US as Switzerland wants to avoid being trapped in the intersection of their duties and retaliation.
Switzerland is vulnerable as the US is its largest uniform export market, with products including watches to medicinal products.
“The escalation of trade dispute between the US and the EU-of the two most basic Swiss partners-is not in the interest of Switzerland as medium-sized and export orientation economyAs, “the seco said in a statement.
Second has warned that Switzerland could be implicitly affected if duties on European vehicles announced by the US are in place, as many car industry suppliers are based in the country.
Seco refused to give details of who Buddliger Buddle, or what the content of the talks would be.
The US Commercial Representative is currently considering whether Switzerland and several other countries are involved in ‘unfair commercial practices“
Although Switzerland has a large trade surplus in products with the US, the country is not acting unfairly and has abolished duties on industrial products, Buddliger Artena said in Swiss media earlier this month.
Switzerland is the sixth largest source of foreign direct investment in the US, with Swiss companies creating nearly half a million jobs in the country.
Source :Skai
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