Lates News

According to Bloomberg news on September 5th, US Commerce Secretary Howard Lutnick criticized Switzerland's pharmaceutical exports, claiming that the country's wealth is mainly built on selling drugs to the United States. After trade negotiations broke down, Swiss Vice President Guy Parmelin will meet with him. Lutnick made the above remarks. Previously, Switzerland and the US imposed a 39% tariff on Swiss goods in trade negotiations on drugs. The pharmaceutical industry is Switzerland's largest export industry and is currently exempt from tariffs, but Lutnick suggested that a separate tariff be imposed on drugs. Leading global pharmaceutical companies Novartis and Roche Holding are the core defense forces in Switzerland's negotiations. Lutnick expressed doubts about whether a breakthrough could be achieved and said, "I am not optimistic." Negotiations are continuing against the backdrop of escalating trade tensions.