Zurich Stock Exchange: Opening expected in sharp decline after customs duties

Zurich (AWP) – The Swiss Stock Exchange is expected to react negatively on Monday. Consequently, morning on customs duties of 39% imposed by the United States on Swiss imports. Moreover, Watchmakers. Consequently, luxury values, as well as pharmaceutical titles should be particularly jostled by the unexpected level of taxes imposed on Swiss exports.

Around 06:40 am, the SMI star index was moving towards an opening of 2.6% to 11,532 points, according to the IG Bank foreign estimates. However, The Zurich square was closed on Friday, a national holiday of August 1, during the announcement of customs duties by Washington.

The new customs of customs by American president Donald Trump. Furthermore, having to enter into force on August 7, are “almost final” and should not be the subject of negotiations immediately, according to the American representative with trade Jamieson Greer.

Switzerland does not lose zurich stock exchange: opening expected hope of influencing the position of the tenant of the White House. She prepares “an offer” for Washington. “We are trying to understand where there was a lack. ” Federal Advisor Guy Parmelin said on Saturday for Forum de la RTS.

“It is a real shock. Switzerland, often spared by geopolitical turbulence, is brutally targeted by the new US tariff salvo,” said John Plassard. According to the head of the Cité Management investment strategy. “with a 39 % customs right – one of the highest in the world – it undergoes treatment that even its European partners have avoided”.

While Swiss companies have created more than 400. 000 jobs in the United States, Washington “seems to want to create a maximum lever effect to obtain a massive investment commitment, comparable to the $ 600 billion promised by the EU”.

“The macroeconomic impact could be severe”. the indirect effects would be numerous with a zurich stock exchange: opening expected “drop in the confidence of business leaders, investment frost, relocations and layoffs”, enamed Mr. Plassard.

Experts from the KOF C shorter research institute. who do not exclude a recession, estimated that this rate of 39% would have an impact of 0.3% to 0.6% on the gross domestic product (GDP) of the Confederation.

The impact on the pharmaceutical industry is still uncertain. depends on the taxes that will ultimately be imposed on it. Added to this is the requirements of Washington to lower the prices of drugs. If this area was applied by customs duties of 39%, it would make Swiss GDP back from 0.7%, continued the KOF.

Al/Jh