A temporary 10% US tariff on Swiss goods expires on July 24, but Switzerland faces fresh levies rather than relief: the Trump administration has recommended a 12.5% additional duty on Swiss imports, citing Switzerland's lack of an explicit ban on goods produced with forced labour. A second US investigation into alleged industrial overcapacities could give Washington further leverage to impose additional tariffs down the line. Swiss President Guy Parmelin (head of the federal executive council) travelled to Washington in late June for talks with US Trade Representative Jamieson Greer, but negotiations have not produced a binding agreement before the deadline, leaving Bern anxious about the outcome.