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

The Swiss government said it is determined to win over the US on trade after last week’s shock announcement of 39% tariffs on exports to America. President and Finance Minister Karin Keller-Sutter convened an emergency meeting of the governing Federal Council today to discuss how to proceed — there aren’t many options,