The Swiss government said Thursday it would pursue more talks with the United States after a last-gasp mission to Washington failed to stop a 39-percent tariff blow that businesses described as a "horror scenario".

Swiss leaders refrained from implementing countermeasures against sweeping US tariffs and instead want to focus on further talks to find a solution with Donald Trump’s administration.

Switzerland’s government has reached out to local drugmakers Roche Holding AG and Novartis AG to discuss the tariff situation, a spokesperson said, after the country was hit with the highest US levies in the developed world.