GENEVA (AP) — In a swift response to escalating trade tensions, Switzerland’s president, Karin Keller-Sutter, is leading a high-level delegation to Washington on Tuesday. The aim of this urgent visit is to negotiate an agreement with the Trump administration concerning severe tariffs that threaten Swiss industries, notably chocolate, machinery, and watchmaking.

The immediate catalyst for this trip stems from last week’s announcement that exports of Swiss goods to the U.S. will soon incur a staggering 39% tariff, starting Thursday. This rate is over 2.5 times higher than the tariffs imposed on European Union goods and nearly four times greater than the tariffs applied to British exports.

Concerns are mounting within various Swiss sectors, including watchmaking and chocolate production, where the projected tariff increases could have dire consequences. Furthermore, this new tariff rate surpasses the 31% that had been expected when President Trump announced his controversial “Liberation Day” tariffs on numerous countries at the beginning of April.

The Swiss government has characterized the Washington trip as essential “to facilitate meetings with U.S. authorities at short notice” and to engage in discussions aimed at ameliorating the tariff landscape for Swiss exporters.

Keller-Sutter, who also holds the position of finance minister, has been under fire from Swiss media following her previous failed attempt to engage with Trump just before the deadline for tariff adjustments expired on August 1. She is accompanied by Economy Minister Guy Parmelin in this critical mission.

In a recent CNBC interview, Trump mentioned the earlier call with Keller-Sutter, describing it as one in which “the woman was nice, but she didn’t want to listen.” He further stated, “We have a $41 billion deficit with you, Madame … and you want to pay 1% tariffs.”

The basis for Trump’s $41 billion figure is unclear, as data from the U.S. Census Bureau indicates a $38.3 billion trade imbalance with Switzerland last year.

Swiss officials argue that American products benefit from nearly zero tariffs in Switzerland, emphasizing that their country ranks as the sixth-largest foreign investor in the United States and the foremost investor in research and development.

Ivan Slatkine, head of the Federation of Romandie Enterprises, remarked to Le Temps that the proposed 39% tariffs represent a “hammer blow for the entire Swiss economy.” He noted that while high-end watchmakers may withstand the pressure better due to a lack of direct competition, other sectors, such as airplane parts and machinery, would be significantly affected.

“For all the companies that depend on the American market, this is catastrophic news, especially compared to rivals within the European Union, who are subject to only a 15% tax,” Slatkine stated.

This diplomatic mission follows an extraordinary meeting of Switzerland’s executive branch, the Federal Council, which expressed its strong desire to continue talks with U.S. officials regarding the tariff situation.

After consultations with various Swiss enterprises, the council has developed “new approaches for its discussions” and is optimistic about future negotiations. A statement released by the Swiss government highlighted that Switzerland is prepared to enter this new phase with a more appealing offer that takes U.S. concerns into account while striving to alleviate the current tariff predicament.

Under the new U.S. tariffs introduced last Friday, Swiss companies face some of the steepest export duties, with only Laos, Myanmar, and Syria subject to higher figures of 40-41%.