Switzerland is inching closer to a deal to cut punishing US tariffs on its exports to about 15 per cent, as companies from Rolex to Richemont take the lead in breaking months of deadlock between Bern and Washington.

European business sees a far greater impact in 2026 from U.S. tariffs and other trade tensions than in 2025, when front-loading mitigated the consequences, a survey by BusinessEurope showed on Monday.

Wholesalers in the wine industry warn that prices could be rising soon. Tariffs have impacted both importers of foreign wines and wineries at home dealing with higher operating costs.

Relations between the US and India have plummeted in recent months over tariffs, negotiations for a trade deal and policy changes.

President Donald Trump’s new tariffs are targeting Italian pasta with a whopping 91.74% duty. The move follows a U.S. investigation accusing major Italian brands of “dumping” pasta at unfairly low prices.

Premiums for consumers buying aluminium on the physical market in the U.S. have hit record highs, driven by steep import tariffs and tight supplies globally.

Despite an already frayed relationship between the United States and Canada, President Donald Trump recently abruptly ended trade talks with the Great White North and imposed a 10% tariff on it. The move came after the province of Ontario aired a television ad in late October that used clips from a 1987 anti-tariff radio

India’s economy rebounded in September, Bloomberg Economics’ monthly GDP tracker shows — defying expectations after the US imposed 50% tariffs on Indian exports. The recovery looks durable, setting the stage for stronger growth ahead.

The Swiss government declined to comment on Monday after Bloomberg reported the country was close to agreeing a deal with the U.S. that would reduce Washington's tariffs on its exports to 15%.

Reduced U.S. tariffs on Chinese imports took effect Monday following a trade agreement between President Donald Trump and Chinese President Xi Jinping late last month.