Swiss business leaders are anxious about US plans to apply 25% tariffs on the EU.
Although Switzerland is not in the EU, the effects could be highly damaging, says the head of the Swiss tech industry association, Swissmem.
Martin Hirzel says the current environment is a nightmare for companies as it relies on stability.
The association points out that Switzerland supplies European car manufacturers with components, even if this country is not included in the tariffs – it will hurt the export of components.
There are also worries that the EU may treat Switzerland as a third country if it applies tariffs. It did the same during the last Trump administration when the US applied tariffs on steel and aluminium.
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