LiveTrade war
Customs duties create a political gap in SwitzerlandSwiss industrialists urged the federal government to continue negotiationsSwitzerland continues to aim for a negotiated solution with Washington
President Donald Trump decided to tax Swiss products at 39%. Karin Keller-Sutter announced this Thursday evening the absence of agreement with Washington.
While the Bern thought it was at a touching end of an agreement, Washington decided to punish the Swiss economy more violently than in April.
The image is that of a big tomcat who caught a little mouse. And who – before deciding if he wants to devour her all raw or let her leave – plays with her with an eye at the same time migrant and threatening.
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Most Swiss parties criticize the 39% customs duties imposed by Donald Trump. But they are divided on the solutions to be provided, between strengthening the competitiveness of Switzerland or even closer collaboration with the European Union.
The PLR denounces in particular “a disaster and a direct attack on our prosperity”. In his eyes, the Federal Council must take “rapid and determined” measures to support the competitiveness of Swiss businesses and alleviate economic damage.
The UDC also asks the government “to massively alleviate” the burden on the economy. For her, align with the EU and her “monstrous bureaucracy (…) would be the stupid thing that Switzerland can do”.
On the left, the PS considers on the contrary that the announcement of American customs duties “shows once again” that Switzerland must not isolate itself on the international scene. Cooperation with Europe is more important than ever, he says. An opinion shared by the Green-Es.
China said on Friday that protectionism “harmed the interests of all parties” after the announcement by US President Donald Trump of new customs duties in nearly 70 countries.
Guo Jiakun, spokesperson for the Chinese Foreign Ministry
EPA
“China is systematically and clearly opposed to the taxation of these customs rights. There is no winner in a customs rights war or a trade war, “said a regular newspaper Guo Jiakun, a spokesperson for the Chinese Ministry of Foreign Affairs.
The European scholarships opened in red on Friday, the date of the formalization of the surcharge inflicted by the United States on its business partners including the European Union and the United Kingdom, who will enter into force in a few days.
In the first exchanges, the Paris Stock Exchange lost 1.16%, that of Frankfurt ceded 1.24%, London 0.50%and Milan 1.17%.
Image d’illustration
KEYSTONE
In a first reaction, Swiss industrialists urged the federal government on Friday to continue negotiations.
The professional association of SMEs in the mechanical sector, electricity and metals, which depends strongly on export, “warns against the long-term consequences” for SMEs in Swiss industry and requires that the government acts “with clarity and self-confidence” and “resolutely the existing negotiation window with the United States”, according to a press release.
The United States is a key partner for Switzerland. In 2024, they represented 18.6% of its exports of goods, according to customs statements. These are mainly pharmaceutical products-which represent 60% of all Swiss exports to the United States-, deliveries of the Tech industry (machines, electrical and metal equipment) for around 20% and watches (8%).
The trade deficit in the United States with Switzerland approached the 40 billion CHF in 2024 (43 billion euros and 49 billion from USD), an indicator to which the American president pays particular attention, seeing a sign of weakness from the United States.
Switzerland is however the 6th country in terms of direct investments in the United States, particularly in research and development. Thus Roche and Novartis, the two Swiss Giants of the Pharmacy have announced in recent months tens of billions of investments in the United States over the next 5 years.
The Federal Council has taken note of “regret” of additional customs duties imposed by the United States. Switzerland continues to aim for a negotiated solution with the United States, said the spokesperson for the Federal Finance Department (DFF).
Additional 39% customs duties imposed by the American president deviate “clearly” from the project to declare joint intention, wrote the DFF communication manager on Friday morning, Pascal Hollenstein, interviewed by the Keystone-ATS press agency.
Pascal Hollenstein et Karin Keller-Sutter. Photo d’Archive.
KEYSTONE
The Federal Council takes note with great regret of the fact that the United States-despite the progress made in bilateral discussions and “the very constructive attitude of Switzerland from the start”-want to apply the additional unilateral customs duties “of a considerable amount to imports from Switzerland”. According to Mr. Hollenstein, the Federal Council will analyze the new situation and decide the procedure to follow.
The Swiss federal government wishes to continue to negotiate with the American administration, which wants to impose a punitive 39% surcharge on Swiss products imported into the United States from August 7.
The Federal Council takes note of “with great regret” because the United States-despite the progress made in bilateral discussions and “the very constructive attitude of Switzerland from the start”-want to apply the additional unilateral customs duties “of a considerable amount to imports from Switzerland,” said the Ministry of Finance Agence at Keystone-ATS.
Switzerland and the United States have failed to agree on the declared declaration of intention in matters of customs policy. For Donald Trump, the trade deficit is in the foreground, writes the president of the Confederation Karin Keller-Sutter on X.
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“I had an interview today with President Trump before the expiration of the deadline for customs duties. The trade deficit remains at the center of its concerns. This interview did not make it possible to find an agreement on the declaration of intention negotiated between Switzerland and the United States, ”wrote Ms. Keller-Sutter on Thursday evening on messaging X.
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AFP/Adeline Acerbi
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