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Roche CEO, pharma execs to meet with Swiss government over US tariffs
['Mon', 'Sep', 'Min Read']
Yahoo Finance
By John RevillZURICH (Reuters) -Roche Chief Executive Thomas Schinecker and other senior executives from the Swiss pharmaceuticals industry will meet with the government on Monday to discuss the threat U.S. tariffs pose to the crucial export sector.
Swiss pharmaceuticals are currently not subject to that levy.
Pharmaceuticals are by far the most important Swiss export sector to the United States, with shipments worth 32.75 billion Swiss francs ($41.28 billion), making up about half of Swiss exports there last year.
If the 39% tariff is extended to cover pharmaceuticals, Swiss economic output could fall by more than 1%, according to one estimate.
Swiss pharma exports to the U.S. have fallen since April after importers stockpiled earlier this year to avoid having to pay any levies.
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