Since August 7, 2025, Swiss exports to the United States have been struck by customs duties by 39 %. What are the repercussions on the Swiss economy and the Swiss equity market? It goes without saying that competitive disadvantage …
Since August 7, 2025, Swiss exports to the United States have been struck by customs duties by 39 %. What are the repercussions on the Swiss economy and the Swiss equity market? It goes without saying that the competitive disadvantage is considerable. Almost 2 % of the country’s annual economic performance is affected. If these customs duties were to be maintained, the economic situation could be strongly sealed in the second half. Long -term growth in gross domestic product (GDP) should decrease by approximately 0.5 percentage points, which corresponds to a drop in almost a third of its rate. Nevertheless, Switzerland has assets: low public debt offers room for maneuver to the state to offer aid. In addition, some very innovative companies should be able to adapt in the medium term to the value chain and the markets. These elements could explain the reaction of Swiss shares at the entry into force of American customs duties. It will still be necessary to wait a few weeks before knowing the effects and their magnitude on actions. It is advisable to analyze the companies appearing in the portfolio to determine to what extent they are likely to undergo commercial sanctions decreed by the United States. Luxury companies and those in the watchmaking sector should suffer more from the situation, while those oriented towards the national market (insurance, banks, communities) should probably be affected than marginally. Swiss actions are currently our favorite asset class. Foreign titles should experience lateral development, after the delightful performance recorded in recent months.
Do you want to get placement recommendations? Subscribe to our investment publications.