Swiss Industrial Exports Face Higher US Tariffs Than EU

Swiss industrial companies are operating at a competitive disadvantage in the United States due to a tariff gap between Swiss and European Union exports. Since late July, the Federal government of the United States has applied a 12.5% tariff on Swiss goods, which is 2.5 percentage points higher than the duty applied to EU products.

A survey by the industry association Swissmem indicates that over half of Swiss firms are absorbing these additional costs to maintain their U.S. client base, leading to reduced profit margins. This trade friction is already evident in the data, with exports from Switzerland to the U.S. declining by 5.3% during the first half of 2026.

Swissmem warns that the situation could worsen as the U.S. conducts an investigation into industrial overcapacity. If the tariff gap widens to 5 percentage points, nearly half of the surveyed companies could see their U.S. business endangered. Martin Hirzel, Chairman of Swissmem, noted that while companies are unlikely to relocate production to the U.S. due to a shortage of skilled workers, securing an agreement to prevent a disadvantage relative to competitors remains essential.