Swiss Pharma Giants Tackle U.S. Tariff Challenges Amid Trump Pressure

The Swiss government is engaging with pharma companies Roche and Novartis to address U.S. President Trump's demand for price cuts and to negotiate a 39% tariff on Swiss exports. The discussion follows concerns about the potential for tariffs on drugs reaching 250%, impacting Swiss trade significantly.

The Swiss government is set to meet with pharmaceutical giants Roche and Novartis amid pressure from U.S. President Donald Trump to reduce drug prices. The meeting aims to negotiate a 39% tariff imposed on Swiss exports, following concerns over potential tariffs on pharmaceutical imports to the U.S. that could reach 250%.

Economy Minister Guy Parmelin and Health Minister Elizabeth Baume-Schneider will represent Switzerland in talks with these companies. Although pharmaceuticals are not currently covered by this tariff, the U.S. Section 232 national security investigation into the sector raises fears of increased import duties, severely impacting Swiss exports and economic output.

Pharmaceutical exports are Switzerland's top export sector to the U.S., valued at 32.75 billion Swiss Francs annually. Companies like Novartis and Roche have pledged significant U.S. investments to mitigate tariff risks, with talks also focusing on preserving bilateral trade dynamics and Switzerland's economic interests.

(With inputs from agencies.)