39%? For Switzerland, this is a huge shock, and worse than the worst-case scenario – these are the highest tariffs in Europe. Globally, the fourth highest, behind only Syria, Laos, and Myanmar, (although if President Trump follows through on his 50% tariff threat then Brazil will jump to the top of the list).

As the stutter-step rollout of President Trump’s global tariffs campaign enters its fifth month, you could be forgiven for losing track of which countries are facing which rates. After all, hardly a day seems to go by without the White House ramping up or negotiating down some of the many different import duties Trump has launched since his so-called “Liberation Day” on April 2.