Marco Rubio, Swiss President Discuss 39% Tariffs On Switzerland

U.S. Secretary of State Marco Rubio met Swiss President Karin Keller-Sutter on Wednesday to discuss the 39% tariffs slapped by the United States on Switzerland.

“We discussed bilateral cooperation between Switzerland and the US, the tariff situation, and international issues,” Keller-Sutter said in a post on X after her meeting with Rubio.

Keller-Sutter rushed to the U.S. in a last-ditch attempt to prevent the 39% levy being enforced against imports of goods from Switzerland into the United States.

Earlier on Wednesday, White House economic advisor Kevin Hassett said he was not aware of any changes to the tariffs on Switzerland yet, according to his interview on Fox Business.

“You know, we’ve got Switzerland coming in and trying to renegotiate their tariffs, and we’ll see how it goes,” he said during the interview.

The 39% tariffs against the Playground of Europe would put 1% of Switzerland’s economic output at risk over the medium term, according to an analysis by Bloomberg.

The Trump administration earlier on Wednesday slapped India with 25% additional tariffs for purchasing Russian crude oil. It is also considering additional measures, including sanctioning Russia’s shadow fleet of oil tankers and entities running them, to force Russian President Vladimir Putin to end the Ukraine war.

Meanwhile, U.S. equities gained in Wednesday’s morning trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.71%, while the Invesco QQQ Trust (QQQ) gained 0.98%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

Also See: Trump Administration Weighs Other Options To Hit Russia After Slapping Additional 25% Tariff On India: Report

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