Trade conflict
Trump’s tariffs shock Switzerland: how the country reacts
Switzerland was recently confident that the US tariffs by President Trump got away with a blue eye. But it will be much worse than feared.
The White House published a new list of tariffs on Thursday evening. A country hits it surprisingly hard: Switzerland. From August 7th, an inch of 39 percent will apply to all Swiss goods exported to the USA.
The government accepts this with great regret, she said. The hoped-for agreement on a lower sentence failed to materialize, as Federal President Karin Keller-Sutter wrote on the X platform.
The high duty was unexpectedly. An agreement seemed possible last week. On a phone call to US President Donald Trump, they got on well, said Keller-Sutter: “He was very respectful. ‘It’s Honor to Talk to You, Madam President,’ he said, before I was able to say Grüezi.”
Reactions from Switzerland
Swiss media also reacted shocked. The “Tages-Anzeiger”, the largest daily newspaper in the country, writes: “Trump gives Switzerland a black national holiday. The US customs tariff of 39 percent is a fiasco for the country.” It is time to break away from the illusion that the United States is a reliable partner.
The “Lucerne Zeitung” writes: “There is currently no reliable policy with the United States. If the right of the stronger applies, Switzerland has no chance. It needs a world based on rules.”
The daily newspaper “Blick” writes: “Federal President Keller-Sutter thought herself on a diplomatic track-now Switzerland meets Trump’s customs hammer with full force.” Switzerland really seems to be wiped off.
Trump’s tariff threat to Swiss economy
The economy itself also reacted to the sudden turn. The Economiesuisse Economic Association spoke of unjustified tariffs that are “a very serious burden on the Swiss economy”. Switzerland is the most important foreign investor in the United States. Swiss companies created around 400,000 jobs there.
The tariffs endangered Switzerland, wrote Swissmechanic, the specialist association of small and medium-sized companies in the metal, electrical and machine industry. The business associations are calling on the government to do everything to do in the next few days.
Swiss exports
The United States is by far the largest sales market for Swiss companies. Exports made CHF 65.3 billion (CHF 70.2 billion) last year, almost 17 percent of total exports. This is followed by Germany with CHF 45.2 billion.
By far the most important sector in Swiss exports are chemical and pharmaceutical products. They make up around half of all Swiss exports. This includes medication, vaccines and other chemical products. In 2024, the export value was around CHF 149 billion.
Mechanical engineering, facilities and electrical engineering are also traditional export hits, with a value of around CHF 45 billion. Switzerland exported 2023 watches worth over 25 billion francs world-famous for quality, plus precision and measuring instruments.
Jewelry also regularly records increasing export values, especially in the USA and Asia. Brands such as Nestlé and Lindt also export high -quality foods, including chocolate, at around CHF 10 billion a year.
Source: Stern
