Summary
Switzerland is struggling with high U.S. tariffs, imposed at 39%, which have impacted its economy and export industries. The Swiss government has attempted to negotiate with the U.S. to reduce these tariffs but has not succeeded. The tariffs have particularly affected industries like medical technology, though pharmaceuticals are currently exempted.
Key Facts
- President Trump has imposed a 39% tariff on Swiss goods entering the U.S.
- These tariffs are the highest in Europe and the fourth-highest worldwide.
- Switzerland is not part of the EU, so it cannot benefit from the EU's trade deal with the U.S.
- Around 17% of Swiss exports go to the U.S., making it a crucial market for Switzerland.
- Key affected industries include medical technology and precision instruments.
- Swiss pharmaceuticals are not currently affected by the 39% tariffs, but could face future 100% tariffs on medicines.
- Switzerland is a major investor in the U.S., supporting 400,000 American jobs.
- Swiss economic growth is slowing, and job losses are possible due to these tariffs.
