Business fears the worst Customs deal with Trump turns into a war of nerves for Switzerland - only hours to go
Is Switzerland threatened with a tariff hammer from Washington? It remains unclear until Friday morning whether Donald Trump will drastically increase import duties on Swiss products. The uncertainty is putting business and politics on alert.
31.07.2025, 11:44
31.07.2025, 11:54
SDA
No time? blue News summarizes for you
- Donald Trump wants to impose punitive tariffs on countries with a trade surplus.
- According to the current plan, Switzerland will have to pay 31 percent tariffs.
- A transitional tariff of 10 percent currently applies, but the deadline expires on August 1.
Switzerland is eagerly awaiting news from Washington. US President Donald Trump should announce by August 1 whether or not he will maintain the 31% tariff surcharge on Swiss products exported to the United States. Uncertainty is high and tension is rising.
This measure, which Trump originally announced in April as part of the so-called "Liberation Day" trade plan, aims to impose a differentiated tariff rate on countries with a high trade surplus with the United States. Despite its small economic size, Switzerland is one of the countries most affected, with a planned rate of 31%, the highest among OECD countries.
A tariff rate of 10 percent has been in force temporarily since April . The 90-day period granted to several countries, including Switzerland, expires on Friday morning at 6 a.m. Swiss time.
Concern is growing in Bern
The Federal Council has intensified its diplomatic contacts in recent weeks. There is still no binding response from the US side. "We are still waiting", explained Markus Spörndli, spokesman for the Federal Department of Economic Affairs, Education and Research (EAER), to the Keystone-SDA news agency on Thursday.
The economy fears the worst. According to an estimate by the KOF Institute at ETH Zurich, the introduction of the 31 percent tariff would mean an annual loss of 0.2 percent of Switzerland's gross domestic product. The watch industry, the pharmaceutical industry, precision mechanics and the food industry would be the hardest hit.
When the 31% tariffs on Swiss exports to the United States were announced in April this year, President of the Swiss Confederation Karin Keller-Sutter called for a "decision based on dialog and compliance with international trade rules". She added that "Switzerland would not understand a sanction of this magnitude without prior consultation".
According to observers in Washington, Trump could announce a compromise with a rate of between 15 and 20 percent. The US government imposed a rate of 15 percent on Switzerland's main trading partner, the European Union.
