Switzerland concerned about job losses due to 39% US tariffs

US tariffs of 39% on Swiss goods will have dramatic consequences and put tens of thousands of jobs in the country at risk, Urs Furrer, Director of the Swiss Trade and Crafts Association, told Swiss agency Keystone-ATS, according to Report.

“If these tariffs really come into force on Thursday, we will see not only a partial increase in unemployment but an overall rise in joblessness,” he said.

Furrer believes these tariffs will have “dramatic” consequences as tens of thousands of jobs in Switzerland will be threatened.

On August 1, US President Donald Trump signed an executive order imposing tariffs on several countries, with rates ranging from 10% to 41%.