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.

ZURICH (Reuters) -Switzerland's government will hold an extraordinary cabinet meeting on Monday to discuss its response to President Donald Trump's 39% tariff on Swiss imports, which threatens to inflict heavy damage to its U.S.-dependent luxury goods industry.

The Swiss government is ready to make a "more attractive offer" in trade talks with Washington, the cabinet said on Monday, after a crisis meeting aimed at averting a 39% U.S. tariff on Swiss imports that could hammer the export-driven economy.