Swiss (Watch) Exports to Be Subject to a 31% Tariff
Under the 1977 International Emergency Powers Act, Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday. As a result, imports from the European Union (and therefore Germany) will be subject to a 20% surcharge, while those from Switzerland will even be subject to a 31% tariff as a reaction to the 61% tariffs that the U.S. says Switzerland imposes on American products. Trump imposed 10% as the “minimum rate” for other countries, Japan is listed with 24%