The surprise move has sent shockwaves through industries like luxury watches, chocolate, machinery, and gold refining. With tens of thousands of jobs at risk and GDP projected to drop up to 0.6%, Swiss officials are scrambling.
President Karin Keller Sutter failed to secure a reduced rate during last-ditch talks in D.C., and now Switzerland is convening emergency meetings while urging calm and pursuing continued negotiations with U.S. authorities.
This video captures the sense of economic alarm and national urgency gripping Switzerland as it enters a new era of trade turbulence.
