Melting like fondue

Swiss shares dropped 1.8% to start the week after the Alpine nation was hit by 39% tariffs, the highest in the developed world, says Jon Henley in The Guardian. Negotiators in Bern had thought they were in line for a UK-style 10% deal. About one-sixth of Swiss company sales are made to the US, raising the risk of recession if a better deal isn’t secured. The Swiss case is especially absurd, says John Authers on Bloomberg. The country’s £35.8bn trade surplus with the US has been driven by one-off...