How The New US Tariffs Are Already Impacting The Swiss Economy

(MENAFN- Swissinfo) On August 1, US President Donald Trump announced a tariff of 39% for Switzerland. The effects are slowly becoming visible. This content was published on September 8, 2025 - 09:00 7 minutes

Where does Switzerland stand in the world? And where is it heading? I focus on current and possible future developments. After completing my studies (history, law and European studies), I worked for a time at the Swiss embassy in Athens. I have journalistic experience at home and abroad, at the local and national levels, as a freelancer and as a staff journalist. Today, it's with an international focus.

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Only five countries have higher tariffs for their exports to the US than Switzerland. Of all the industrialised nations and European countries, Switzerland has the highest US tariffs. At the same time, the US has one of the highest shares of Swiss foreign trade. The tariffs were therefore very bad news for some industries. But what has happened since August 1?

What is the background?

On April 2, Trump declared the so-called Liberation Day, a package of import tariffs for a long list of countries. Switzerland was also on this list, with a tariff of 31%, which caused great unrest in Switzerland. However, the Swiss government and business community were optimistic that these could be lowered in negotiations. The government believed it had succeeded: in summer it spoke of a“deal” with 10% tariffs.

Then, on Swiss National Day of all days, Trump shocked Switzerland by announcing 39% tariffs on its products.

Read our analysis of the political consequences in Switzerland of Trump's decision:

More More Swiss diplomacy How Trump is manoeuvring Switzerland closer to the EU

This content was published on Aug 8, 2025 The steep US tariffs of 39% have sent shockwaves through Switzerland. They give a boost to those who advocate closer ties with the EU.

Read more: How Trump is manoeuvring Switzerland closer to the E

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