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Swiss Exports to US Plunge After Tariff Hike as Trade Tensions Deepen
The introduction of a 39% tariff on Swiss goods by the United States reportedly the highest among developed nations had a swift and pronounced effect on trade flows. Data from Swiss customs showed that seasonally adjusted exports to the U.S. fell by 22% in August compared to the previous month, the first full period under the new tariff regime. This marks one of the largest month-on-month declines since 2020 and indicates a strong causal relationship between the implementation of the tariff and the reduction in export activity. Among the goods affected by the tariff, watches a flagship Swiss export saw an 8.6% ... (full story)
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The highest US tariff among developed nations dealt a severe blow to Swiss exports, according to the first reading since the 39% levy took effect. Foreign sales to America, adjusted for seasonal swings, were 22% lower in August than in July, Swiss customs data showed Thursday. Imports from the world’s biggest economy held steady. That narrowed the US trade ...
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