Swiss army knife maker relieved by US tariff cut

Victorinox relieved by announcement of lower customs duties Keystone-SDA

The CEO of Swiss army knife maker Victorinox as reacted with relief to the reduction in United States tariffs on Swiss products to 15%.

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This creates a more manageable framework for exports, Carl Elsener told the AWP news agency on Wednesday. Thanks to this reduction, “the financial sacrifice” for deliveries to the US will be less, he said.

At the same time, the remaining direct tariffs of around 20% and the additional tariffs on steel are still a “major challenge”.

With around 18% of sales, the US is the most important foreign market for the manufacturer of pocket, kitchen and professional knives.

In the long term, further improvements in the framework conditions are needed, for example through trade agreements and the removal of administrative barriers.

Read more: Switzerland secures US tariff rate cut to 15%

Translated from French by DeepL/mga

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