What does the election mean for Swiss business?
Martin Naville, CEO of Swiss-American Chamber of Commerce on Trump’s election told swissinfo.ch that the election result is “certainly not good news for Swiss business”, as Trump “stands for trade protectionism”.
He commented that Switzerland is one of the “strongest investors in the US” and “trades in quality goods, which do not involve cheap labour”.
In that respect, Naville continued, “Swiss companies are not on the frontline of any potentially adverse Trump trade policies”. “He has spoken of imposing taxes on Chinese and Mexican goods and pulling out of trade agreements and the WTO. If the US starts to adopt a protectionist trade strategy then Switzerland would certainly feel the knock-on effects and suffer damage.”
We’ll bring you more reaction today from the Swiss business sector from our correspondent in Zurich, Matthew AllenExternal link.
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