After President Karin Keller Sutter's last-minute trip to the US failed to prevent the US from imposing a 39% tariff, Switzerland is seeking new negotiations with the US.
In a statement after an urgent meeting with President Keller Sutter, the Swiss cabinet said the tariffs would put significant pressure on the country's export-oriented economy.
The Brazilian government said it is planning to support companies affected by the US 41% tariffs, the highest.
Taiwan (China) is also continuing negotiations with the US. Lai Ching-te leader said that the 20% US tax rate on Taiwan (China) is only temporary.
Ireland is subject to a 15% tax rate, and said it will announce a new plan to diversify its economy, which is heavily dependent on US multinational companies, including Intel, Pfizer, Johnson & Johnson.
Despite the US's last-minute tax cut from 50% to 15%, the African country Lesotho is still suffering many losses. The country's textile and garment enterprises said that tariff instability in recent months has devastated the industry, causing many orders to be canceled and workers to lose their jobs.
Several US trading partners, including the UK, Thailand, Cambodia, Indonesia, the Philippines, Japan, South Korea, Pakistan and the European Union (EU), have achieved tax reductions through negotiations or signing of trade agreements.
The EU is the only US trading partner to be subject to the basic tax rate of 15%, which includes previous tariffs. However, the agreement was only partially implemented. While details of the US-EU deal are finalized, a 27.5% tariff remains in place for cars imported from the EU.
India's 25% tariffs could increase to a total of 50% after Trump signed an executive decree on August 6 to impose additional fees in response to the country's purchase of Russian oil. New Delhi has 21 days to respond.
