Franklin FTSE Switzerland ETF

FLSW

Market cap $60M

Georges Kern, CEO of Swiss luxury watchmaker, Breitling discusses the impact of U.S. tariff rate of 39%, and explains how consumer sentiment is being affected by political instability across Europe.

Swiss watchmaker Swatch has begun selling a special edition watch with the numbers three and nine reversed on its face in a play on the 39% tariffs President Donald Trump imposed on U.S. imports from Switzerland last month.

Goods shipped from the country face a 39% tariff in the U.S., which companies warn will have dire consequences if President Trump cannot be quickly dissuaded.

Switzerland's president is about to leave Washington without reaching a deal to get President Donald Trump to lower the 39% tariff he put on the country. A delegation led by Karin Keller-Sutter presented a new proposal to US officials, but no agreement was reached, according to people familiar with the situation.

Switzerland is facing 39% tariffs on goods imported to the U.S. from Aug. 7. The looming duties have caused concerns about the Swiss economy, industry and interest rate outlook.

Franklin FTSE Switzerland ETF is a $50m-sized product that offers exposure to 50 large and mid-cap stocks from Switzerland. FLSW appears to trump EWL on multiple fronts, notably the cost efficiency, income, and the risk-adjusted return track record. The Swiss Franc's appreciation is likely to be quite troubling for the export oriented Swiss economy, while deflationary risks too have perked up.