Secretary of State Marco Rubio extended what could be viewed as a hollow "congratulations" to Switzerland Friday as it celebrated its nation's founding just a day after President Donald Trump imposed the highest tariff on any European nation.
"I extend my congratulations to the people of Switzerland on your National Day, August 1," Rubio wrote in a press statement. "The United States values its strong and steady relationship with Switzerland. Our cooperation spans trade, finance, and security areas where Swiss leadership and reliability continue to make a global impact."
Politico reporter Douglas Busvine wrote, "Normally on Aug. 1, the country of 9 million commemorates the founding of the Swiss Confederation in the year 1291. As on July 4 in the U.S., people celebrate with fireworks and parades."
But Busvine added that "The Swiss might not be in the mood this year," thanks to a 39% tariff just imposed on the Alpine country by Donald Trump.
Swiss President Karin Keller-Sutter said she had spoken with Trump on Thursday but that “no agreement could be reached," The New York Times reported.
"Now, Swiss products imported into the United States, including pharmaceuticals, precision instruments and even coffee capsules, will be subject to the 39 percent tariff if the two sides don’t hash out a trade deal by Aug. 7," wrote Times reporter Liz Alderman.
The major issue behind the huge tariff rate is the U.S. trade deficit with Switzerland, Keller-Sutter said.
"But over half of Switzerland’s trade gap with the United States comes from gold bullion and bars refined in Swiss foundries and exported in large quantities to America," the Times reported. "The Swiss central bank has suggested gold shouldn’t be counted in the trade balance sheet."
Swiss business associations are calling for "urgent negotiations" with the U.S. to lessen the tariff rate, lest Swiss goods become economically out-of-reach for the American market, the Times reported.