The Swiss government on Wednesday underscored the need to uphold international law following US President Donald Trump’s announcement of higher tariffs on Switzerland than on the European Union.

According to figures presented by Trump, the US would impose a 31% tariff on Swiss imports, compared to 20% on EU goods and 10% on British imports.

In a statement on X, Swiss President Karin Keller-Sutter said her government acknowledged the US tariff decision and would promptly assess its next steps.

“The country's long-term economic interests are paramount. Adherence to international law and free trade remain core values,” Ms Keller-Sutter said in her post.

In addition, Swiss business federation, economiesuisse, has urged the federal government to take action to prevent further escalation following Trump’s announcement.

From an economic standpoint, there are no clear justifications for the tariffs, according to the business lobby group.

Economiesuisse stated on X that the escalation in trade policy poses a “serious burden” on Switzerland’s export industry.

The new US tariffs will not only drive up the cost of Swiss exports but also undermine business competitiveness and negatively impact the investment climate, Swiss Info reports.

Switzerland has good economic arguments on its side, according to economiesuisse. “Switzerland’s import tariffs are already significantly lower overall than those of the US,” the statement said. If services as well as goods were considered the result would be “roughly balanced trade” between Switzerland and the US.

The United States is Switzerland's largest export market, and the Swiss government has consistently highlighted the country’s contribution to the US economy, Reuters news agency reports.

Switzerland ranks as the sixth-largest foreign investor in the US, and while it has eliminated industrial tariffs, its agricultural sector remains among the most heavily subsidised within the Organisation for Economic Cooperation and Development’s (OECD) industrialised nations.

Analysts view agriculture, which constitutes only a small portion of the Swiss economy, as one of the sectors most vulnerable to US pressure for market liberalisation.