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.

The Swiss government said it is determined to give the US better terms on trade after last week’s shock announcement of 39% tariffs on exports to America.

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