ZURICH – US President Donald Trump’s surprise 39 per cent tariff on Swiss goods has the Alpine nation’s enterprises scrambling to mitigate the impact on their businesses, with some switching gears to look for growth in Singapore and other parts of Asia, among other strategies.
“If the 39 per cent tariff continues, we will have to reduce reliance on the US market and focus on growth in Asia – places like Singapore, India (and) Bangkok,” Mr Renzo Davatz, the chief executive officer of Netstal, a 550-employee manufacturer of injection moulding machines in the industrial canton of Glarus, told The Straits Times.
SwitzerlandTariffsDonald TrumpTradeTrade war