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US President Donald Trump raises his fist upon arrival at the White House in Washington, August 3, 2025, having spent the weekend at Bedminster’s residence.
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The tensions and fears in Switzerland are highly operating because the term of conclusion of a trade agreement with US machines in a few days.
Without a Switzerland transaction faced with 39% of responsibilities On their goods that were imported into the United States, after last week he was hit by one of the highest new tariffs with the latest change in US President Donald Trump’s trade policy. Many responsibilities have surprised many, as the widespread reports have previously suggested that the trade agreement was approaching, and it simply lacked Trump’s signature.
Last weekend reports appeared that higher tariffs followed by a dissenting phone on Thursday between Switzerland President Karin Keller and Trump, which Swiss officials dismissed, reports, reports, Reuters. The Federal Chancellor of Switzerland did not immediately respond to CNBC’s request.
Guy Parmelin, Member of the Federal Council of Switzerland and Head of the Department of Economic Affairs, Education and Research, told the local media that the government was open to set up a proposal in the US – but that it may be difficult to complete on August 7, Reuters Reuters report.
Swiss leaders are going to meet Monday to discuss recent events.
Elsewhere else the American trading representative of Jamieson Greer are somewhat dotted on the hopes of a flurry of a fast trading contract, say CBS News that he did not expect that the last tariffs would be agreed in the coming days and that “these tariff rates are largely set.”
Problems in the Swiss business community
Industrial groups and business executives have raised anxiety for potential cases for businesses that may include heavy work losses.
“It was much more than a surprise. We were all shocked,” said Carolyn Roth and Ritik Hupto, head of the International Relations Department and the Executive Council member at Economiesuisse.
The Swiss enterprise would be difficult to compensate for the exposure of the tariff by 39%, said Attescande. “Such a high rate for many companies just stop trading, and we are convinced that the transaction is still better for both parties than just cut trade.”
He added that there is no replacement for the US in terms of export markets, despite the fact that Switzerland preferred diversification and Swiss enterprises that find success worldwide.
Key Swiss exports include chemical and pharmaceutical products, watches and jewelry, gold, chocolate and electronics.
The Smi Switzels Blue-Chip Index was closed to a national holiday when the new tariff on the US was announced on Friday, but on Monday at 8:30 am at about 1.2% at 8:30 am. Sika chemical shares have fallen 2.1% and luxury Richemont and Roche groups were 1.5% lower.
The Swiss Swiss stock index decreased by 1.5% in early transactions.
UBS analysts said on Friday that a direct impact on the common Swiss stock market from new duties would be “negative but not destructive”. They have indicated the worst companies that will include manufacturers of hours and machines, some Medtech and smaller companies that are more dependent on exports.
The fears also arose over the Swiss economic worldview in the unproductive scenario.
On Monday, Gianluigi Mandruzzato, EFG Asset Management Senior Economist, said Europe’s CNBC that the risk of Switzerland’s recession increased after the announcement, and the US export tariffs affects about 10% of the economy.
The levies would also exert deflation on the economy and thus on the Swiss National Bank, which has already reduced interest rates to zero to get rid of weak inflation and strength of the Swiss Frank, Mandrutsa added.
The deal is ahead?
While business executives hope to reach the Swiss US deal in time, there is a great uncertainty currently, reports ATTESLANDER Economiesuisse.
While the Swiss government worked on a new proposal, “it is completely open at the moment,” he said.
It remains “very difficult to say” whether the government will agree that the current rate is 39% to the term, Mandrutsatat said, using potential tools for negotiations, including higher US energy purchases or more direct investment in the US
“It seems that trade negotiations with the US eventually come down to the fact that Donald Trump prefers,” Mandrutsat said, adding that it was also difficult to evaluate what the final negotiations could be.
– Caroline’s mouth cnbc and Ritika gupta He contributed to this report.
