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.

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