Eastern Time, September 5Bloomberg reportsAccording to reports, US Secretary of Commerce Howard Lutnick criticized Swiss Franc’s pharmaceutical exports, claiming that the country’s wealth is mainly based on selling pharmaceuticals to the US. Following the breakdown of trade negotiations, Swiss Franc Vice President Guy Palmerin will meet with him, and Lutnick made these remarks. Previously, trade negotiations between Swiss Franc and the US on pharmaceuticals had already imposed 39% tariffs on Swiss Franc Commodity. The pharmaceutical industry is Swiss Franc’s largest export industry and is currently exempt from tariffs, but Lutnick hinted that separate tariffs will be imposed on pharmaceuticals. Global pharmaceutical industry leaders Novartis and Roche Holdings are Swiss Franc’s core defense forces in the negotiations. Lutnick expressed doubts about whether a breakthrough could be achieved and said, “I’m not optimistic.” Negotiations are continuing against the backdrop of heightened trade tension.
