BERN, Nov 19 Reuters Switzerland said on Tuesday it was concerned by U.S. Presidentelect Donald Trump39;s proposals to raise tariffs and is considering how to respond if his new administration does so.
Trump aims to shift the aggressive trade agenda from his first term into higher gear with acrosstheboard 10 tariffs on imported goods and even higher levies on imports from China.
That could hurt the exportoriented Swiss economy, which has the United States as its biggest market, experts say. Around a fifth of Swiss exports of goods currently go to the United States, customs data shows, making the country a more important market for Switzerland than Germany, China or France.
Switzerland is concerned about Donald Trump39;s announcement to impose additional tariffs on all goods imported in to the U.S. a spokesman for the Swiss State Secretariat for Economic Affairs SECO said on Tuesday.
Switzerland clearly rejects the plans, they said of the proposals, adding they contravene the rulesbased international trading system which is crucial to the Swiss economy.
SECO said Bern was examining sensible responses and seeking discussions with the relevant U.S. authorities, as well as counterparts in Germany, France, Italy and the EU.
SECO did not give details on what responses were being considered, although Switzerland39;s leeway could be restricted after it scrapped all industrial tariffs this year.
Currently the U.S. has low singledigit tariffs on the import of industrial…