July 24, 2026, 10:22July 24, 2026, 10:23
The USA has imposed new import tariffs of 12.5 percent on Switzerland. These are met with a lack of understanding in the Swiss economy – an overview.
Swissmem
The Swiss tech industry fears a competitive disadvantage due to the newly imposed US tariffs. In order to compensate for this, the industry association Swissmem called for better location conditions in Switzerland on Friday.
A targeted reduction in bureaucracy and a new free trade agreement, for example with the Mercosur countries, should now relieve the burden on local tech companies, the industry association wrote in a statement.
According to Jean-Philippe Kohl, deputy director of Swissmem, the accusation of forced labor is “absurd”. No high-tech products could be manufactured under such conditions because they were developed in Switzerland and largely manufactured domestically.
There is a great lack of understanding at Swissmem.Image: keystone
The suppliers usually come from the EU, where there are no problems with forced labor, said Kohl. The fact that higher tariffs are now to be levied on Swiss tech products than on European ones “hurts” the industry association.
There is also a risk of even higher tariffs, as another investigation into industrial overcapacity is currently underway in the USA, according to Swissmem. A legally binding agreement with the USA that does not put Switzerland at a disadvantage compared to the EU is therefore all the more important for the industry association. So that there is “finally a little more security and stability” in business with the USA.
Swiss Medtech
In view of the new US tariffs, the Swiss medtech industry has called for relief domestically. It sees itself at a significant disadvantage compared to its competitors from the European Union.
“If external pressures increase, Switzerland as a location must not be further weakened,” Adrian Hunn, director of Swiss Medtech, was quoted as saying in a statement on Friday. There is a need for targeted reductions in bureaucracy and no new costs such as the planned regulatory levies on medical devices.
The association supports the Federal Council’s efforts to find a legally binding solution with the USA. Another measure would be the rapid recognition in Switzerland of medtech products approved in the USA, the communiqué said.
Economiesuisse
The economic umbrella organization Economiesuisse assesses the new US tariffs for Switzerland as an additional burden for Swiss companies. “From Economiesuisse’s perspective, this decision is neither understandable nor justified,” the association announced early on Friday morning. The new tariff rate creates competitive disadvantages compared to countries with lower tariff rates, including the European Union (EU) and the United Kingdom.
Monika Rühl, Chairwoman of the Management Board of Economiesuisse.Image: keystone
Economiesuisse also rejected the accusation that Switzerland was not doing enough to combat the import of goods from forced labor. “There is no evidence that Swiss supply chains are being used to funnel goods from forced labor into the US market. Forced labor is already prohibited in Switzerland under constitutional, civil and criminal law,” explained the association. In addition, Switzerland has ratified the relevant ILO conventions and implemented the UN Guiding Principles on Business and Human Rights.
With today’s announcement, the USA is currently adhering to the declaration of intent agreed with Switzerland last November. This provides for a cap of 15 percent for most US import tariffs from Switzerland. Switzerland, for its part, has already implemented key elements of the declaration, according to Economiesuisse. At the same time, the new tariff rate increases the costs for Swiss exports without eliminating the existing uncertainty. It is all the more important that the ongoing US investigation into alleged overcapacity in industrial production does not result in any additional tariff burdens.
The economic umbrella organization is now demanding that talks with the USA must be continued so that the disadvantage compared to the EU and other countries can be eliminated and further trade policy uncertainties can be prevented. (dab, with material from Keystone-SDA)