The vote delays tariff cuts on 96% of Swiss exports to Mercosur and clouds planned wine import quotas.

Investing.com -- The Swiss government has expressed its intent to negotiate with the United States on trade and economic issues. The government has agreed on a draft negotiation mandate to address these matters, which is set to be forwarded to foreign policy committees and the cantons, it announced on Wednesday. Despite the impact of U.S. tariffs policy on exporters and their suppliers, the Swiss government does not anticipate an economic downturn. It has chosen to maintain its compensation program for short-term work, indicating its commitment to supporting businesses during these challenging times. The Federal Council, in a statement, acknowledged that the ongoing global economic slowdown is affecting the Swiss economy. However, it noted that the future developments remain uncertain. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

ZURICH (Reuters) -Talks over trade between the Swiss government and the Trump administration will hopefully yield a result by the beginning of July, Swiss Economy Minister Guy Parmelin said on Tuesday. Switzerland was stunned to be saddled with steeper tariffs than its neighbours in the European Union when U.S. President Donald Trump early last month unveiled a raft of proposed import duties on U.S. trading partners. Since accelerating diplomatic efforts to avert the tariffs, Switzerland and its business leaders have managed to position the country among a group of 15 nations on a fast-track list towards brokering agreement with Washington. Parmelin, speaking at an event in Zurich, said Switzerland needed to diversify its trade relations and that it was important not to depend too much on one trading partner. The United States is Switzerland’s single biggest export market.