The two-minute video isn’t subtle. Wielding a medieval halberd, the president of the conservative Swiss People’s Party lays out the choice Switzerland faces: a simpler life that the country’s founders spelled out in a one-page declaration more than 700 years ago or a 2,

Switzerland had negotiated early and swiftly. The deal it offered “was not so different from that of the European Union”, says a senior Swiss official. It contained similar pledges to invest in America,

Switzerland was looking at a 31% tariff rate for its exports to the U.S. That’s now 39% barring a further deal, and some are reeling.