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US Hits Switzerland With 39% Tariff in Global Trade Blitz | The Pulse 8/01/2025
Donald Trump will impose a 39% tariff on imports from Switzerland, one of the steepest levies globally which threaten to leave the country’s key exports reeling. The outcome — detailed in an executive order Thursday — is higher than the 31% tariff rate Trump had threatened to levy in April and dashes hopes that the country would secure a more favorable deal. The Swiss government expressed its “great regret,” pointing out that the new tariff rate differs “significantly” from a draft framework the countries had been negotiating. Trump unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his turbulent effort to reshape international commerce. The baseline rates for many trading partners remain unchanged at 10% from the duties Trump imposed in April, easing the worst fears of investors after the president had previously said they could double. Yet his move to raise tariffs on some Canadian goods to 35% threatens to inject fresh tensions into an already strained relationship.
Today's guests: Michael Metcalfe, State Street Global Markets Macro Strategy Head, Alberto Nagel, Mediobanca CEO, Elvire Fabry, Jacques Delors Institute Senior Research Fellow, Samuel Masse, European Confederation of Independent Winegrowers President
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 - The Pulse With Francine Lacqua
00:01:42 - Trump Imposes Sweeping Global Tariffs
00:02:41 - Michael Metcalfe, State Street Global Markets Macro Strategy Head
00:12:25 - Mediobanca Profits, Fights off Takeover Bid
00:16:06 - Alberto Nagel, Mediobanca CEO
00:25:10 - Tariff Costs Stack up for European Automakers
00:26:56 - BMW Car Making Margin Declines Due to US Tariffs
00:28:59 - Elvire Fabry, Jacques Delors Institute Senior Research Fellow
00:29:06 - Macron Says EU Wasn't Feared in Trade Talks With Trump
00:34:10 - Switzerland Slammed With 39% Tariff Rate
00:42:19 - Samuel Masse, European Confederation of Independent Winegrowers President
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Published Aug 1, 2025
