Switzerland was looking at a 31% tariff rate for its exports to the U.S. That’s now 39% barring a further deal, and some are reeling.

Switzerland is home to some of the world's most famous watch, chocolate, pharmaceutical and precision instrument brands in the world.

President Donald Trump’s tariff onslaught this week left a lot of losers – from small, poor countries like Laos and Algeria to wealthy U.S. trading partners like Canada and Switzerland. They’re now facing especially hefty taxes – tariffs – on the products they export to the United States starting Aug.

Brazilian companies reacted with a mix of relief and doubt after the White House surprised them on Wednesday with a list of nearly 700 exceptions to the 50% tariff U.S. President Donald Trump imposed on the country's exports from August 6,