Ah it was just a little delayed (due to April fools) 
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USA government thinks that trade deficit is a discount they give to other countries and not tariff rate itself. This believe they do a favour by buying goods from other countries.
This latest move has defied all the logic.
- Reciprocal doesnât mean same tariff rate on same goods
- Reciprocal also doesnât mean same avg tariff between two countries (independent on what type of good)
- Reciprocal simply means trade deficit should be balanced with tariffs. Itâs not reciprocal tariff, itâs reciprocal trade balance
I believe watchmakers impact wouldnât be reflected in SPi index because largest watch company Rolex is not publicly traded. But perhaps Pharma might have an issue although some of them have American manufacturing.
World ex US should decide to not reduce any price. And this means all these tariffs would directly increase prices in US because there is no way US can manufacture all these things. We donât need to respond with another tariff, we can simply stop buying US goods like we did with Tesla.
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What exactly are these âservicesâ that there apparently are so many of?
Donât know if it was retorical, but in case it wasnât: aws, ads (meta/google/apple/âŠ), netflix, apple tv, amazon prime, licensing deals (movies, music), âŠ
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In 2023, other business services accounted for the highest share of EU trade in services
In 2023, the highest values of EU international trade in services (see Table 1) â as measured by the sum of exports and imports to/from non-EU countries â were recorded for
- other business services (this diverse category includes, among others, services in the areas of research and development (R&D), professional and management consultancy, technical and trade-related services, architectural, engineering and scientific services, security and investigative services, real estate and other services to businesses)
- transport services
- telecoms, computer and information services
- charges for the use of intellectual property (for example, royalties and licences)
- travel services
- financial services.
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From what I understand pharmaceutical are not covered in this package. Wouldnât be surprised if remaining swiss export has a lot of pricing power (complex engineering, luxury items) so impact would just be absorbed by the buyers.
Not sure how much food stuff is exported to US vs rest of world. (Those might be the most impacted)
Yes but this is the problem and the point of tariffs: theyâll buy less so thatâll hurt on the other side too.
So letâs say CH has Tariff of 61% on meat and dairy. And US most likely sells nothing to CH in this category. Hence the actual tariff US goods attract is zero
Now they want 31% on everything they import from Switzerland. Not just meat or dairy.
If CH will put their tariff rate to zero for meat & dairy for US, who is going to buy US meat or dairy in Switzerland ? And would US put their tariff to 0? NO because they want to put tariff on trade imbalance and not on tariff rate imbalance
As per Miran, the chief economist on Trump side, the tariffs impact most the side which is least flexible.
He was saying US can buy from anywhere or produce locally. But other countries can only sell to US and hence they would bear the brunt
Here is the video
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And itâs like EU I guess, itâs not because of tariff but because of the regulation (amount of crap you can feed/give the animals)
Yes. We just need to watch Food.inc and it would be clear why 
Must live in some parallel universe then?
I donât think so. I think they believe that just because you buy something from anyone that makes you powerful and flexible.
So this comes from a position of ignorance.
Looks like both of your triggers might be met today .
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I would like to know the exact formulas. The MwSt is like a tariff for import/export, but is way lower in Switzerland than in the EU. But there is a lot or protectionism in Switzerland, our holy cows are the cow-owners. Many products cannot even be imported due to laws.
Now, I was against the idiocy by the SNB to support the EUR and according to the explanation currency manipulation is another reason. Here I would like to see the formula.
But all in all it seems to me that somebody did show us a mirror. And that we were on the wrong way. But eye-for-an-eye leaves just blinds and may lead to a world wide crisisâŠ
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Thank you market for vapourizing my bonus money.
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Pharma would have a big issues (esp. Swiss pharma) but I heard there is an exemption for pharma, so maybe that dinner with Trump paid off.
BOOM -3.8% VWRL at open 
I guess this is on a first approxmation correct. If any country could go it alone and be largely self-sufficient, it is the US. It has agriculture, natural resources, technology, man-power and capital.
Iâd be surprised if the electorate would tolerate such a huge adjustment though.
They believe that when the US buys something, theyâve been ripped off.
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Migros is ripping me off for years. I need them to pay me tariff for the sales
I buy everything from them and they donât buy anything from me . So unfair
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