39%? For Switzerland, this is a huge shock, and worse than the worst-case scenario – these are the highest tariffs in Europe. Globally, the fourth highest, behind only Syria, Laos, and Myanmar, (although if President Trump follows through on his 50% tariff threat then Brazil will jump to the top of the list).

U.S. President Donald Trump's recent executive order only sets out his so-called "reciprocal" tariff for the EU at 15% and does not apply to cars and other agreed carve-outs, EU officials said on Friday,

World shares have retreated after President Trump issued a new set of import duties that will apply to dozens of countries as of Aug. 7