The high tariffs imposed by the US on Swiss goods are a shock to the country's economy, given its open trade policies and the volume of investment across the ocean.
For Swiss companies exporting their goods abroad, such a tariff rate will become a “serious burden“. Against this background, the publication emphasizes that Switzerland has been pursuing an open policy for many years, and since the beginning of 2024 it has abandoned the practice of unilateral tariffs on imports of industrial goods.
Swiss investors rank sixth in terms of the scale of investment in the US economy, and companies from the confederation have created more than 400,000 jobs in this country. In this regard, the Swiss inter-industry business organization Economiesuisse called on Bern and Washington to "quickly find a solution at the negotiating table" to prevent further escalation of the trade conflict.
The introduction of tariffs could have serious foreign policy consequences, including a rapprochement between the confederation and the EU and China.
Against the backdrop of Trump's policies, which have a negative impact on Swiss-American relations, China is beginning to look like an "increasingly attractive trading partner". Thus, the publication notes that in the current situation, Beijing could turn the disappointment of Washington's allies with the course of the new American administration to its advantage and establish trade relations with these countries.
In addition, the newspaper predicts a rapprochement between Switzerland and the EU, which, against the backdrop of the unpredictability of Trump's policies, looks "stable and reliable" despite excessive Brussels bureaucracy and strict regulation of trade policy.
Finally, as the newspaper reported, citing a letter from the Swiss State Secretariat for Economic Affairs (Seco) to the US Trade Representative, which was in its possession, the country's authorities a few weeks ago appealed to the US administration to refrain from imposing high import duties on the confederation.
According to this information, in an address to Washington, Bern "listed the many advantages that distinguish Switzerland from the EU" in trade cooperation. Among other things, the lack of excessive regulation of trade policy and plans to introduce a carbon tax, as well as a softer attitude towards American technology giants, were emphasized. “Like the United States, we use common sense in regulation and avoid unnecessary burdens on companies“, the publication quotes a letter from Seco.
Bern has been trying to “position itself favorably“ to prevent the introduction of import tariffs. “However, the persuasion from Switzerland did not bring any results. Trump decided to impose tariffs against it. For Switzerland, the rate will be 31%, while for EU goods - only 20%“, the publication summarizes.