Moreover,
Customs duties 39% abandonment floor:
The 39% customs duties imposed by the United States raised a shock wave in Switzerland. Consequently, during the summer. However, An emotion which is reminiscent of the abandonment of the French-European floor rate ten years ago. Moreover, the economic uncertainties that this decision had raised. Furthermore, But can we compare these two significant events?
Introduced in 2011 by the Swiss National Bank to fight against the strong franc. Consequently, the floor rate, which fixed the euro at 1.20 francs, had been abandoned in January 2015. Furthermore, The Swiss currency had then jumped. In addition, reaching parity a few minutes after the BNS announcement, while the Zurich Stock Exchange had collapsed by 14%. In addition, Overnight, the Swiss companies that exported had their prices take the elevator.
>> Read also: The Swiss National Bank announces the abandonment of the floor rate. Moreover, the franc is customs duties 39% abandonment floor appreciated and the scholarship plunges
Since August 7, 2025, the hangover is similar for Swiss firms that export to the United States: they woke up with products that cost 39% more expensive, without having changed anything but, after an inflexible decision by Donald Trump which invoked a 40 billion deficit with Switzerland as an explanation.
>> Read also: The 39% taxes inflicted on Switzerland are “a surprise”. For example, a “disappointment”, says Karin Keller-Sutter
2015 and 2025: “Tonnerre”, “tsunami” and “panic” – Customs duties 39% abandonment floor
Between 2025 and today, the comments are very similar. Similarly, Ten years ago. Consequently, there was a “historic decision”, a “thunderclap” and even a “tsunami” for the boss of Swatch Nick Hayek. In addition, It was noted that tens of thousands of jobs were threatened in the export industry. However, All the companies pointed out that what had already been billed was going to be cashed with 20% less. that the customs duties 39% abandonment floor same products with the same charges were going to bring together 20% less, that the consequences would be heavy for the country’s economy.
But we also noted that we had to wait. not to panic completely in the face of uncertainties and analyze the reactions of the courses.
In August. we heard the words “panic”, “dismay”, “terrible blow” or “punishment” and Minister Guy Parmelin said that Switzerland had been “specially mistreated”. We are also afraid for the export industry. jobs in Switzerland, we mention an economic slowdown and a “concrete risk” that the country plunges into recession. We are talking about retaliatory measures. threats, we want to look for allies, we talk about the sending of Roger Federer to negotiate with Donald Trump …
>> Review the subject of 19:30 of January 15, 2015 after the abandonment of the floor rate:
>> Read also: 10 years ago, the BNS caused a shock wave by abandoning the floor rate
Similarities and differences
In terms of similarities between 2015 and 2025, we find surprise and amazement, but also catastrophic speeches and exports that see their price explode in a second.
But we can also emphasize certain differences. The magnitude of the shock is not the same between 2015 and today. It is much more important at the moment. because it is a cocktail more than Amer that is tasted, that of the strong franc and customs duties.
And this cocktail means that since January the Swiss products exported to customs duties 39% abandonment floor the US has increased by 50%. according to the calculations by Maxime Botteron, an economist in UBS questioned in the morning: “What is different is the extent of the price increase, but also the exports affected: in 2015, the set of exports had been affected, while today the problem is linked to the United States and more. There are exceptions concerning certain products, including pharmaceuticals, which represent a large part of Swiss exports to the United States. ” Thus, only 10% of Swiss exports are ultimately affected by these new customs duties.
>> Review the subject of 7:30 p.m. after the increase in customs duties:
Reassuring elements, but a future that remains uncertain
In the end, if the two situations are not 100% comparable, it is not useless to compare them to learn certain lessons. By taking a look back, we hope to predict the consequences of the crisis that we are going through today.
At the time. if we had painted the devil on the wall, we had done pretty well in the end, estimates Maxime Botteron: “If we look at GDP data for 2015, we have a growth of 1.6% to 1.8%, which was not at all envisaged at the time. Some institutes even foresee a fairly marked recession.”
For the expert, it is important today to “not overestimate the costs of such a measure”. It is estimated that the increase in customs duties of 39% could cost up to 0.4 percentage of customs duties 39% abandonment floor Swiss GDP growth. “This remains quite modest on the entire economy, even if some companies are much more affected than others.”
As the Swiss economy is very diverse. does not export that towards the United States, some companies will not be affected at all. And others will adapt to this new deal and find solutions.
If these considerations are reassuring, this does not mean that the shock of customs duties has been exaggerated. It is always complicated to provide the impact of such measures and an agreement may end up being found. And the economy also depends on human psychology: will companies and consumers panic? Will they feel confident and continue to invest or buy? The future will say.
Radio subject: Cléa Favre
Web text: Frédéric Boillat
Further reading: The impressive images of the fire on the majestic main scene of the Tomorrowland festival in Belgium – At least thirty arrests related to fires in Spain – The long return to the summit of Neuville: “It was not a perfect weekend” – Donald Trump does not want Volodymyr Zelensky during his meeting with Vladimir Putin in Alaska – Pregnant, Marlène Schiappa reveals her rounded belly and responds to criticism on her weight.
