The global trade scene is subject to major transformations, as the two countries are scrambling to secure agreements at the last minute before the deadline for customs tariffs. According to a report issued by Yahoo Finance, President Donald Trump is about to implement a gradual tariff system ranging from 10 % to 50 % as part of his commercial agenda, with the first wave he will strike on Thursday.
Also read: The United States sets a new record with 29 billion dollar tariffs in July
Amid these developments, Switzerland and India finds itself in different locations significantly. The Swiss President is on his way to Washington, DC, hoping to negotiate concessions to prevent customs tariffs by 39 % on Swiss goods. Meanwhile, India’s horizons appear for a bleak deal, with two major assistants of Prime Minister Narendra Modi heading to Moscow instead of engaging in talks with the United States
Trump indicated that negotiations with China are advancing, allowing a possible delay in the scheduled definition Snapback. However, he also suggested that the new definitions targeting semiconductors and pharmaceutical preparations can be imminent, with advertisements soon.
Since the deadline is waving on the horizon, US customs officials provided additional technical guidance on customs tariff exemptions, providing a temporary postponement of some importers. However, according to Indexbox data, the average tariff rate in the United States may increase to 15.2 % if the duties continue as planned, which represents a significant increase in the current 13.3 % average rate and a rate of 2.3 % that was observed in 2024 before Trump’s presidency.
Countries such as Japan and the European Union are actively negotiating to secure favorable tariff prices, as commercial negotiators in Japan, DC, were visited to end a plan to reduce the collective tariffs to 15 %. Meanwhile, European Union negotiators are looking for exemptions for specific sectors, such as wine and lives.
While some Asian countries have agreed to collective tariff rates in 19 % -20 %, Switzerland faces the definitions dictated by the United States, and its delegation is making concerted efforts to negotiate lower prices. However, Trump’s recent comments indicate that achieving such concessions may be a challenge.
The Indian situation is still complicated, with its relations with Russia and relying on Russian oil that complicates negotiations with the United States as reported by Bloomberg and the Times of India newspaper, Indian officials give a priority with Russia, even as Trump continues to pressure for changes in India’s tariff policies.
Source: Indexbox Market Intelligence
