Business associations call for solidarity over US tariffs

Business associations call for solidarity over US tariffs Keystone-SDA

Swiss business associations have reacted drastically to the introduction of the US tariff of 39% on Swiss products. The Economiesuisse business federation has spoken of a “significant risk” for the country, while Swissmem calls the tariffs a “horror scenario”.

+Get the most important news from Switzerland in your inbox

A solution requires a coordinated approach from politics and business, according to a press release by Economiesuisse on Thursday. The new tariffs jeopardise international competitiveness and tens of thousands of jobs. The federal government should continue negotiations with the US as a top priority.

The umbrella organisation of the Swiss economy is also once again calling for a comprehensive package of measures to strengthen the country as a business location. Swiss companies must be relieved of additional regulation, the cost burden must be reduced and international market access must be improved. In particular, the association is pushing for the entry into force of new free trade agreements and an update of existing agreements with China and Mexico.

Swissmem warns of ‘effectively dead’ US exports

Swissmem, the association of the Swiss tech industry, has also reacted with clear words. Unfortunately, the government’s renegotiations have failed – the export business to the US is ‘effectively dead’ under these conditions, according to a press release by the group. The fact that competitors from the EU and Japan can continue to export at significantly better conditions is particularly serious, it warns.

+ How pharma became Switzerland’s Achilles heel in trade talks with the US

Swissmem called for urgent measures to strengthen the export economy. The group’s president, Martin Hirzel, is in favour of continuing talks with Washington despite the low prospects of success. “The wind in Washington can change at any time,” says Hirzel in the press release.

The association warns of big consequences for Swiss prosperity. Not only industrial companies would be affected, but indirectly also domestic sectors such as the hospitality industry, trade and healthcare, it reckons. Swissmem is presenting a ten-point plan, including the extension of short-time working, lower electricity prices, adherence to the electricity agreement with the EU and the swift conclusion of new free trade agreements.

Translated from German by DeepL/jdp

How we work

We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.  

Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.

If you have any questions about how we work, write to us at [e-mail].