Swiss Economy Minister Guy Parmelin said that in the face of the 39% import tariffs on Switzerland announced by Trump, the Swiss government is willing to readjust its trade proposal with the US to find a solution. The Swiss cabinet will hold a special meeting on Monday to discuss next countermeasures. “Time is short and it may be difficult to complete anything before August 7, but we will do everything we can to show sincerity and revise our proposal,” Parmelin said. He pointed out that Trump is concerned about the US-Switzerland trade deficit. The US deficit with Switzerland reached 38.5 billion Swiss francs last year. Switzerland is considering increasing purchases of US liquefied natural gas as one of the potential mitigation options. Another option is to encourage Swiss companies to further expand their investment in the US. The US is Switzerland's largest export market in the fields of pharmaceuticals, watches, and machinery and equipment.

Swiss Economy Minister Guy Parmelin said that in the face of the 39% import tariffs on Switzerland announced by Trump, the Swiss government is willing to readjust its trade proposal with the US to find a solution. The Swiss cabinet will hold a special meeting on Monday to discuss next countermeasures. “Time is short and it may be difficult to complete anything before August 7, but we will do everything we can to show sincerity and revise our proposal,” Parmelin said. He pointed out that Trump is concerned about the US-Switzerland trade deficit. The US deficit with Switzerland reached 38.5 billion Swiss francs last year. Switzerland is considering increasing purchases of US liquefied natural gas as one of the potential mitigation options. Another option is to encourage Swiss companies to further expand their investment in the US. The US is Switzerland's largest export market in the fields of pharmaceuticals, watches, and machinery and equipment.