Swiss Business Lobby Decries U.S. Tariffs as Harmful

Switzerland's main business lobby condemned the U.S. tariffs on Swiss imports as detrimental and groundless. The Swiss government emphasized the importance of international law. Economiesuisse pointed out that the tariffs harm the Swiss export industry, though pharmaceutical products are not affected by Trump's executive order.

The Swiss economy faces new challenges as the U.S. imposes a 31% tariff on imports from Switzerland, significantly higher than tariffs on goods from the EU and Britain. The decision, announced by U.S. President Donald Trump, has been labeled as 'harmful and unjustified' by Economiesuisse, Switzerland's main business lobby group.

Economiesuisse highlighted that Switzerland, having abolished industrial tariffs from 2024, maintains lower import tariffs than the U.S., which calls into question any rationale for heavy taxation on Swiss goods. They stressed that this move burdens the Swiss export industry, despite a relatively balanced trade when including services.

Pharmaceutical products, which constitute over half of Swiss exports to the U.S., remain unaffected by the order. Meanwhile, Switzerland reaffirms its commitment to international law and free trade, with President Karin Keller-Sutter acknowledging the situation and planning a swift governmental response.

(With inputs from agencies.)