Swiss businesses breathe easier as U.S. slashes tariffs from 39% to 15%
The Central Switzerland Chamber of Commerce and Industry (IHZ), representing 800 businesses across five cantons, has welcomed the recent reduction of U.S. tariffs on Swiss goods. The IHZ, which consistently opposes protectionism and advocates for robust international trade, sees this move as crucial for businesses heavily reliant on U.S. exports that have faced tense and costly months.
The IHZ, led by Director Adrian Derungs, hails the reduction of U.S. tariffs from 39% to 15% as vital for the survival of many small business ideas. However, the IHZ cautions that free trade remains under pressure, despite this positive shift. The most severely affected sectors—high technology, watches, and mechanical engineering—have seen exports decline by over 14% within weeks, raising concerns about job losses and economic recession.
The IHZ acknowledges that not all details of the negotiated outcome have been disclosed, and the political process is still ongoing. The IHZ represents businesses from the cantons of Lucerne, Uri, Schwyz, Obwalden, and Nidwalden, all of which have been impacted by the tariff fluctuations.
The IHZ welcomes the U.S. tariff reduction, viewing it as a lifeline for many businesses. However, it remains vigilant about the ongoing pressure on free trade and the potential impacts on jobs and the economy. The IHZ continues to advocate for robust international trade and opposes protectionism, ensuring the voice of its 800 member businesses is heard in the ongoing political process.
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