Switzerland is ready to make a "more attractive offer" in trade talks with Washington, its government said on Monday, following a crisis meeting aimed at averting a 39% U.S. import tariff on Swiss goods that threatens to hammer its export-driven economy.

Swiss officials and business leaders reacted with shock and confusion after the president’s executive order imposing a 39% tariff—a higher rate than all but three nations. The reason for it? A skyrocketing trade imbalance.

The Swiss government said it had “no indication” the country would be hit with a 39 percent tariff, which is set to take effect this week.

The tariffs U.S. President Donald Trump imposed last week on dozens of countries are expected to remain in effect rather than be reduced during ongoing trade negotiations, U.S. Trade Representative Jamieson Greer said Sunday.

Pro-trade groups won’t take President Donald Trump's love for tariffs at face value, as they gear up for another round of outreach aimed at securing relief.