Trump tariffs could hit Swiss exporters

Friday, 8 November 2024 06:30

Swiss exporters are worried about the threats that President elect-Trump has made over tariffs.

Switzerland exports more finished products to the US than any other country. Many of those are high-value, such as machinery, watches and pharmaceuticals.

While the details are not known, analysts believe tariffs could reach levels not seen since the 1930s – around 20%.

The KOF economic institute says that the US move could cut 0.2% off the economy initially, but if sustained – could result in GDP losing 1%.

A secondary worry is that the EU and China will take retaliatory measures – pushing up their own import tariffs.

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