Swiss Firms Anticipate Economic Impact from US Tariffs

Swiss companies are bracing for a significant economic impact following the imposition of a 31% tariff on their exports to the United States, a decision announced by former President Trump. A survey conducted by Economiesuisse revealed that nearly half of the participating firms expect to be strongly affected, particularly in key sectors such as watches and chocolate. The higher tariffs, which disproportionately impact Switzerland compared to the EU and UK, are prompting businesses to consider strategies for mitigation, including diversifying markets and adjusting pricing for U.S. importers. Economists at UBS warn that these tariffs could hinder Swiss economic growth in the coming years. Meanwhile, Swiss economic representatives are engaging with U.S. officials to explore potential responses and countermeasures to the tariffs. The situation reflects broader concerns about international trade dynamics amid escalating tensions.