Chagee Holdings Limited shares fall 5.60% intraday due to U.S. tariffs on Swiss goods.

Chagee Holdings Limited dropped 5.60% in intraday trading. The decline may be attributed to the recent imposition of 39% tariffs on Switzerland by U.S. President Donald Trump, which has negatively impacted Thermoplan, a key supplier for Starbucks and a significant player in the Swiss economy. The tariffs, along with separate U.S. tariffs on industrial metals, are costing Thermoplan around $10 million annually, potentially affecting its operations and financial performance.