U.S. President Donald Trump’s new tariffs — hitting Swiss exports with a steep 39% rate — have sent shockwaves through Switzerland’s economy. Unlike the EU and UK, which secured milder tariff deals, Switzerland’s non-EU status leaves it exposed to heavy trade strains.
Healthcare Industries Hit Hardest
Roughly 17% of Swiss exports go to the U.S., including high-value products like medical technology and precision instruments, critical for American healthcare. Swiss business leaders, including Economiesuisse and Swiss MedTech, warn the tariffs will raise U.S. healthcare costs as companies pass on price increases or halt exports altogether.
Implications on Global Trade
With negotiations stalled, Switzerland is pivoting to other markets — launching new trade agreements with India and Mercosur, enhancing ties with China, and maintaining free trade with the EU, which absorbs half of its exports.
Specifically, supply chains relying on Swiss precision goods may face higher prices and reduced availability in the U.S. market. Diversifying sourcing and securing contracts early with Swiss or alternative European producers could mitigate upcoming global cost pressures.
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