🇨🇭 The Swiss president reportedly screwed up an important phone call with Trump, causing him to slap her country with a 39% tariff rate.
This is up from the initial 33% rate.
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https://bit.ly/4m2BlsA
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The US Trump admin. and Switzerland agreed on the terms and passed the final agreement to Trump for signing.
Trump already knows that Switzerland is rich, and asked about whether it has a trade surplus or deficit. When he heard that it is a deficit for the US, he made a call to the Swiss leader to negotiate. The latter thought that the terms had been agreed and were ready to be signed. So she refused to change it.
"And I said, we have a $41 billion deficit with you, madam....and you want to pay 1% tariffs. I said, you're not going to pay 1%, we lose, because I view deficit as loss."
Trump only looks at the trade, but not the software and those profits from US-denominated instruments.
(06-08-2025, 06:33 AM)Blin Wrote: [ -> ]Almost all countries are at the Mercy of Trump's.and dont know how many countries need to borrow money from Ah Longs one year from now.
So Ah Long business shud be booming one year from now? Can cope a table permanently in kopi tiam to start business say in Jan 2026?
(06-08-2025, 06:33 AM)Blin Wrote: [ -> ]Almost all countries are at the Mercy of Trump's.and dont know how many countries need to borrow money from Ah Longs one year from now.
As americans needs to pay more, they will purchase fewer, market will shrink.
money is earned by their govt.
A new world order in rising trade cost.