The highest US tariff among developed nations dealt a severe blow to Swiss exports, according to the first reading since the 39% levy took effect. Foreign sales to America, adjusted for seasonal swings, were 22% lower in August than in July, Swiss customs data showed Thursday. Imports from the world’s biggest economy held steady. That narrowed the US trade deficit with Switzerland to 2.06 billion francs ($2.6 billion) — from 2.93 billion francs the previous month — the second lowest reading since 2020. That narrowed the US trade deficit with Switzerland to 2.06 billion francs ($2.6 billion) — from 2.93 billion francs ... (full story)