Machinery industry Swiss tech sector feels the full impact of US tariffs in the third quarter
The Swiss tech industry remains under heavy pressure. In addition to global political uncertainties and a strong franc, it is US tariffs in particular that are making life difficult for companies.
14.11.2025, 08:56
SDA
Sales in the third quarter of 2025 rose by 3.0% compared to the previous year, as Swissmem reported on Friday. Large companies in particular saw an increase in turnover, while turnover among SMEs fell by 9.0%. And over the first nine months, there was an overall decline of 0.7 percent.
Incoming orders were up 5.4% in the third quarter, although this was also distorted by the base effect of a weak prior-year quarter, the report continues. Overall, orders stagnated from January to September and capacity utilization in companies also continued to fall.
Tariffs take full effect
The negative effect of US tariffs in particular took full effect in the third quarter. Exports from the tech industry to the USA fell by 14.2% compared to the previous year. Overall, global exports rose by 4.0%, thanks in particular to an increase in exports to the EU.
The outlook for the future is anything but rosy. The business situation remains very tense, according to Swissmem, and even if US tariffs were to be lowered, this would not solve the problems. Accordingly, only 27% of Swissmem member companies expect an increase in orders over the next twelve months.
