Key facts
- Swiss industrial companies face a 12.5% U.S. tariff rate on exports, 2.5 percentage points higher than EU competitors.
- A survey by Swissmem indicates over 50% of Swiss firms are absorbing these higher tariffs, impacting profit margins.
- Swissmem warns of severe consequences if the tariff differential widens further, potentially endangering U.S. business for nearly half of companies.
- Swiss exports to the U.S. decreased by 5.3% in the first six months of 2026.
Swiss industrial companies are expressing concern over a widening tariff gap with the European Union on exports to the United States. Since late July, Swiss goods have faced a 12.5% U.S. tariff rate, which is 2.5 percentage points higher than the duty applied to products from the EU.
Industry association Swissmem highlighted that a U.S. investigation into industrial overcapacity could lead to even higher tariffs, further exacerbating the disadvantage for Swiss exporters. According to a survey conducted by Swissmem, more than half of Swiss firms are absorbing the increased tariff costs to avoid losing U.S. clients, thereby impacting their profit margins. While 42% of companies are able to pass these costs on, Swissmem warned of severe consequences if the current 2.5 percentage point differential widens.
Swissmem chairman Martin Hirzel noted that U.S.-bound exports have already declined by 5.3% in the first six months of 2026. He added that if the tariff gap were to increase to 5 percentage points, nearly half of the surveyed companies indicated their U.S. business would be seriously endangered. Hirzel emphasized that an agreement ensuring Swiss companies are not at a disadvantage compared to their main competitors remains essential.