Switzerland facing higher tariff because it did not drop trade barriers, White House says

WASHINGTON, Aug 1 (Reuters) - Switzerland is facing a higher 39% tariff rate on its exports to the United States because it refused to make "meaningful concessions" by dropping trade barriers with the U.S., the White House said on Friday.

"Switzerland, being one of the wealthiest, highest income countries on earth, cannot expect the United States to tolerate a one-sided trade relationship,” a White House official said.