US tariffs increase and hit Swiss exports

Post on: 04.05.2025

On 3 April 2025, the Federal Council took note of the far-reaching customs duties announced by the US government to all US trading partners, including Switzerland. Analyze & in depth about the measures and their impact on Switzerland, and it is in contact with the sectors concerned and with the authorities; United States.

Federal Council instructs the Federal Department of Agriculture to Economy, Education and Research (EAER) to start preparations for a possible solution with the United States.

The tariffs announced by the U.S. government vary between trading partners, based on their trade deficits. According to the announcement, all exports of Swiss goods will be subject to duties of 31 or 32%, at the act of the import into the United States. Compared to other US trading partners with a similar economic structure (European Union: 20%, UK: 10%, Japan: 24%), Switzerland is facing a Soaring duties. The Federal Council does not understand the US government's calculations. During the next contacts with the authorities; The Federal Council will clarify any misunderstandings and will try to to reach a solution.

Swiss exports will be subject to additional duties of 10% from 5% onwards. April and a further 21% from 9  April 2025. These tariffs affect important export products such as machinery, watches, and agricultural products (coffee capsules, energy drinks, cheese, chocolate). At present, there are no additional duties on the exports of pharmaceutical industry, although separate decisions have been announced in this regard.

Economic risks

In its economic forecast of 18  March 2025, the federal government's expert group predicted a growth of Swiss economy below average. With the tariffs announced by the U.S. government on 2  April 2025, the probability increases that the economic situation develops in a more ù weak than expected in March.

Not only because of the duties on Swiss exports, but also because of the expected trend of the Economy at the international level.

Federal Council instructs the State Secretariat of the (SECO) to analyse the impact in detail, to monitor developments closely and to propose appropriate measures depending on the impact on Switzerland.

For binding information on the structure and Enforcement of duties It is recommended that the companies concerned contact the authorities directly. U.S. Customs and Border Protection (www.cbp.gov/trade) and to contact importers and customs brokers in the United States. United as well as trade associations. Swiss exporting companies can also contact the service. Exporthelp  by Switzerland Global Enterprise (S-GE).

Swiss trade policy – USA pursued so far

Switzerland, as a medium-sized economy heavily dependent on trade, è in favour of the opening up markets, stable framework conditions and legal certainty. The States  United States, they are Switzerland's second largest trading partner after the European Union. Bilateral trade in goods and services has developed dynamically in recent years. The bilateral trade balance è relatively balanced: the States  United they denote a surplus in the export services and Switzerland a surplus in the Export of goods.

The surplus of our country in the export of non-è attributable to commercial practices & unfair. Switzerland has abolished all industrial duties since 1°   January 2024. 99% of all goods from the U.S. can be be imported into Switzerland duty-free. The Confederation does not pay to the industry subsidies that produce distortions on the market. The surplus in trade in goods è mainly due to exports of chemical-pharmaceutical industry and the trade of gold. The States  The United States is the largest recipient of Swiss direct investment.

Switzerland and the United States  United they are partners who cultivate close economic relations. In the last twenty years bilateral trade è Quadrupled. Switzerland ranks sixth among foreign investors in the United States. United and stands out in first place for investments in research & development. For decades, it has been specialized in chemical-pharmaceutical industry and therefore invests heavily in research & development in the States. United. The Federal Council intends to maintain these dynamic bilateral economic relations and reaffirms its commitment to the opening of markets.

An increase in trade policy tensions is not è In Switzerland's interest. Any countermeasures against US tariff increases would entail costs for the Swiss economy, in particular by making the Swiss economy more efficient. imports from the United States are expensive. The Federal Council is therefore not planning any countermeasures for the time being.

In line with its foreign policy and foreign economic policy strategies, the Federal Council will continue; to commit to diversifying trade relations with all international partners.