Swiss exports to the US rebound, with trade agreement with the US still pending.

Swiss exports to the United States rebounded in June, indicating that bilateral trade remains strong as the two countries negotiate tariffs. The Swiss Federal Customs Administration and Border Security Agency said on Thursday that after seasonal adjustments, Swiss exports increased by 26.9% compared to May, with imports from the US growing by 0.2%. Switzerland is still in negotiations with the US to reach a trade agreement. Swiss Finance Minister Karin Keller-Sutter said at the end of June that US Treasury Secretary Steven Mnuchin told her that the two countries are "very close" to reaching an agreement. Reports suggest that the draft agreement includes a guarantee to avoid tariffs on Swiss pharmaceutical exports. However, President Trump stated this week that global pharmaceutical tariffs could be implemented as early as August 1st. Meanwhile, Swiss left-wing lawmakers are calling for the country to take countermeasures along with the EU to combat US tariffs.