Switzerland expects US tariffs on Swiss imports to stay at 10% after July 9 as talks between the two countries continue. The tariffs were put in place as part of broader US trade measures. A Swiss government spokesperson said there is hope for a resolution.
However, they expect the current 10% tariff rate to stay in place for now. The talks are part of wider international trade discussions. Several other countries are also talking with the US about tariffs and trade policies.
The global economy has been unstable due to the Covid-19 pandemic and policy changes by major central banks. The US dollar has seen ups and downs in the foreign exchange market. It had trouble regaining lost ground on Wednesday as investors reacted to a fragile truce between Israel and Iran.
Swiss tariffs remain amid trade talks
The EUR/USD exchange rate hit its highest point since November 2021. This was caused by a drop in the US dollar index (DXY).
US President Trump said he would discuss the Ukraine war with President Zelenskiy. He also mentioned ongoing talks with President Putin about the conflict. Financial markets are closely watching these geopolitical events and economic policies.
They could impact global trade and currency exchange rates. In related news:
– Major central banks have raised their policy rates in response to high inflation since the Covid-19 pandemic. The Bank of Japan is a notable exception.
– The EUR/USD exchange rate saw big gains, rising 14% from its lowest level to reach 1.1643. As the situation develops, those involved in international trade and finance will be looking for updates from the ongoing US-Swiss tariff talks.
