Swissmem Director on the trade warTrump's tariff chaos also affects the Swiss economy
SDA
3.2.2025 - 05:56
The punitive tariffs imposed by US President Donald Trump against Mexico, Canada and China also have an impact on Switzerland. They are "poison for the global economy", says Swissmem Director Stefan Brupbacher.
Keystone-SDA
03.02.2025, 05:56
03.02.2025, 06:19
SDA
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The punitive tariffs imposed by US President Donald Trump against Mexico, Canada and China also have an impact on Switzerland.
The tariffs will make many things more expensive, especially in the USA.
If the US economy falters, this would also have consequences for Switzerland.
"The tariffs are unsettling, which is poison for the global economy," Stefan Brupbacher, Director of the Swissmem association, told Blick. The tariffs will make many things more expensive, especially in the USA. If the US economy falters, this would also have consequences for Switzerland.
Swissmem Director Stefan Brupbacher warns of a tariff war that could get out of hand. (archive picture)
Picture:Keystone/Marcel Bieri
Swiss companies with subsidiaries in China or Mexico would be particularly affected. "Not everyone has the opportunity to pass on the tariffs to US customers," Brupbacher continued. The pressure on suppliers could increase, particularly in highly competitive sectors such as the automotive industry. They would either have to produce more cheaply or risk losing their orders.
Countermeasures by the affected countries, such as the punitive tariffs introduced by Canada on US products, could further exacerbate the situation. Brupbacher warned of a possible escalation spiral, as seen in the global economic crisis of the 1930s.
Switzerland does, however, have some advantages. All industrial tariffs, including on products from the USA, have already been abolished in this country. Switzerland is also a major investor in the USA and creates skilled jobs there. It is now up to the federal government to emphasize the importance of these relationships to the US and prevent any possible misunderstandings.
On Sunday, US President Trump imposed far-reaching punitive tariffs on goods from Canada, Mexico and China. The orders he signed impose tariffs of 10 percent on imports from China and 25 percent on imports from Mexico and Canada. A rate of 10 percent applies to energy imports from Canada.
Trump's decrees also contain a passage that provides for a possible increase or extension of the tariffs if the countries concerned respond with retaliatory measures such as counter-tariffs on US products.