Customs storm
The “made in Switzerland” takes a gigantic slap
The flagships of the Swiss economy are knocked out by the announcements of the Trump administration. If the 39% surcharge is confirmed, manufacturers fear for their profitability on the American market.
Swiss clocks fear a significant drop in sales in the United States, one of their most important markets.
AFP
- The Trump administration imposes customs duties of 39% on the Swiss industry.
- The watchmaking sector fears a sharp drop in sales in the United States.
- Gruyère AOP exports could fall by 20% this year.
- The Swiss tech industry already finds a 3% drop in exports.
For a 1is August, the atmosphere is anything but festive for the Swiss economy. Donald Trump and his administration have just knocked out the Confederation with 39% customs dutiesthe highest rate in Europe. Yves Bugmann, president of the Federation of the Swiss watch industry (FH), does not hide his immense disappointment. “We are all the more surprised as the Swiss authorities showed rather positive signals in recent weeks. ” Another proof, if one needed one, of the “unpredictability” of the American president.
But everything is not lost. “There are seven days left for the Federal Council to find a more acceptable solution with Washington,” reassures Yves Bugmann. Two possible scenarios: either Trump’s blow of the massage was “only a negotiation tactic”, and then Switzerland will be able to lower this “insane” rate by 39%. Either the announcement becomes final on August 7, which would become very worrying for the president of the FH. “We export 95% of our production, 17% of which are intended for the American market.”
Entry and mid -range of watchmaking will suffer
Will Swiss watches have to be new wrists? “We are already present in a dozen markets, but several of them are in difficulty,” judges Philippe Bauer, president of the patronal convention of the Swiss watch industry (CP). He thinks for example China, of which of which The craze for Swiss watches decreased From the pandemic.
Philippe Bauer does not intend to dictate the procedure to follow to watchmaking companies. “Each will take the measures it deems the most adequate. The most obvious would be to seek to develop new markets such as India or Indonesia, or to consolidate relations with Italy and England, which are historically good customers. But by what it can completely replace the American market … it’s still far away. ”
For the former advisor to the Neuchâtel States, it is especially the entry and the mid -range which risk suffering with such high customs duties. “The one who puts 50,000 francs for a luxury watch is generally not very looking at the price. High -end products will undoubtedly be less impacted. But for those who saved at length to afford a watch costing between 10,000 and 20,000 francs, that makes a sacred difference. ”
Swiss tech very vulnerable to customs duties
Cold shower also for the precision machine industry, electrical equipment and metals (MEM), very dependent on the American market. Stefan Brupbacher, director of the Swissmem ridge, said all his anger in a communiqué Posted this Friday morning. He deplores the “erratic decision” of the Republican president, which “jeopardizes several tens of thousands of jobs in the industry”.
Philippe Cordonier, member of the management of Swissmem for French -speaking Switzerland, also woke up with a “big shock” this morning. “This surcharge is all the more dismaying since our authorities seemed close to an agreement.” But what do you want, “Trump always has the last word”.
The consequences would be all the more painful as the US dollar has weakened 10% compared to the franc since the start of the year. The effects of this trade war are already felt for Swiss tech. “Our exports to the United States have already decreased by more than 3% in the second quarter of 2025,” said Stefan Brupbacher before the announcements of this “fatal 1ᵉʳ”. A situation that could “get worse” knowing that the American market (10 to 15% of the MEM industry) is the second largest importer of Swiss tech industry, just behind Germany (25%).
Philippe Cordonier also calls on the Federal Council to “continue negotiations” to reduce this rate by 39%. And more generally to “improve access to other global markets” for Swiss tech companies. The context would have been gloomy since the end of the pandemic: “the order books are no longer filled as well as before”.
On the other hand, Swissmem is not favorable for Switzerland to take retaliatory measures against the United States. “This would hardly penalize the greatest economy in the world, the Swiss market being far too small for American exports.”
APR -GRUYER exports decline
The arch of the White House also weighs on the morale of cheese makers. Take the AOP Gruyère, much appreciated by American gourmets. Pierre-Ivan Guyot, president of the interprofession (IPG) of the most famous cheese in Switzerland, estimates that such customs pressure could lead to a decline of at least 20% of sales in the country of Uncle Sam this year. Blow, while the Gruyère AOP sends more than a tenth of its total production to the United States. On average over the past three years, 4,000 of the 13,000 tonnes of exported Gruyère were leaving for the USA.
“We are very disappointed, but keep a small hope for obtaining a less unfavorable agreement,” continues Pierre-Ivan Guyot. Fortunately, we had anticipated this crisis by handbrake on production this year. It was reduced by 3%, or 900 tonnes. ” Therefore, no need to fear, like the Swiss winegrowers in this catastrophic yearthat the cellars overflow with stock impossible to sell. “Unlike wine, cheese does not have to worry about a general drop in consumption. For the Gruyère, it is even rather trendy upwards. We remain confident. “
With 39% of taxes, the AOP Gruyère could become a luxury product in the United States. “He risks being dereferenced in certain distribution channels,” deplores the president of the IPG. But no fatalism. “We will continue our promotion efforts in the USA while reserving the possibility of emphasizing the European market, not to mention Switzerland. We still have a few cards in the Channel. ”
“Latest news”
Do you want to stay at the top of the info? “24 hours” offers you two meetings a day, not to miss anything of what is happening in your canton, in Switzerland or in the world.
Other newsletters
Did you find an error? Please report it to us.
