Switzerland holds back on US tariff countermeasures
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Switzerland holds back on US tariff countermeasures
The Swiss government has decided against immediate countermeasures against high United States tariffs on Swiss goods.
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Ramping up trade tensions is not in Switzerland’s interest, the government said.
In its communication on Thursday, the Federal Council also fears that countermeasures on the part of Switzerland would be associated with costs for the Swiss economy. In particular, imports from the US would become more expensive.
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Trump slaps 31% tariff on Swiss goods
According to US policy, all Swiss goods exports would be subject to 31 or 32% customs duties when imported into the US. Compared to other US trading partners with a similar economy, Switzerland would thus be faced with particularly high additional tariffs.
Swiss exports are expected to be subject to additional tariffs of 10% from Saturday (5 April) and a further 21% from Wednesday (9 April). “The calculations of the US government are not comprehensible to the Federal Council,” the statement said.
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According to the Federal Council, important export products such as machinery, watches and agricultural goods such as coffee capsules, energy drinks, cheese and chocolate will be affected by the additional tariffs. However, no additional tariffs are currently planned for exports from the pharmaceutical industry.
The Federal Council now wants to analyse the measures announced by US President Donald Trump and their impact on Switzerland in greater depth. It is in contact with the affected industries and the US authorities.
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Translated from German with DeepL/mga
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