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Swiss tech faces severe blow from Trump tariffs, industry group says
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 3, 2025
1 min readLast updated: January 24, 2026
Swiss tech companies are struggling with new US tariffs, facing a 31% import duty compared to lower rates for the EU and UK, says Swissmem.
ZURICH (Reuters) - Swiss tech companies are facing a serious setback from trade tariffs imposed by the United States on Switzerland, industry association Swissmem said on Thursday.
"The new tariffs are a severe blow to companies in the Swiss tech industry, which are in a difficult situation after many months of declining sales," Swissmem said in a statement.
U.S. President Donald Trump on Wednesday imposed a 31% tariff on imports from Switzerland compared with 20% on goods from the European Union and 10% from Britain.
(Reporting by Dave Graham, Editing by Friederike Heine)
The article discusses the impact of US-imposed tariffs on the Swiss tech industry, highlighting challenges faced by companies.
The US has imposed a 31% tariff on Swiss imports, higher than the 20% on EU goods and 10% on UK goods.
The Swiss industry association Swissmem provided insights into the challenges faced by the tech sector.
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