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U.S. President Donald Trump has imposed a steep 39% tariff on imports from Switzerland, one of the highest rates globally, after trade talks failed to yield a favorable deal. The rate, detailed in an executive order signed Thursday, exceeds the 31% initially threatened in April and dashed hopes for a negotiated outcome. The Swiss government expressed “great regret,” noting the tariff “differs significantly” from the draft framework under discussion. President and Finance Minister Karin Keller-Sutter said on X that she had a final call with Trump, who remains focused on addressing the U.S. trade deficit — USD 38 billion with Swiss last year. While other partners like the EU, Japan, and South Korea secured 15% rates, Switzerland’s domestic constraints, including strong agricultural lobbies and limited new concessions, may have hindered a deal. Despite months of diplomacy, Bern’s offers — including lower tariffs on U.S. citrus and medical device approvals — appear to have fallen short.