Swiss CEOs urge Trump to ease tariffs amid declining exports and growth
Swiss business leaders met with US President Donald Trump in Washington to discuss trade relations. The purpose was to stress the robustness and durability of economic ties between Switzerland and the United States. The meeting was held in a constructive spirit, with Swiss leaders reaffirming their support for ongoing talks.
The heads of six major Swiss companies—MSC, Rolex, Richemont, Mercuria, MKS PAMP, and Partners Group—signed a joint statement. They expressed their support for ongoing trade agreement negotiations between the two governments. However, US tariffs have posed challenges to Swiss industry. Economic growth projections for 2025 and 2026 have been revised downwards to 1.3% and 0.9% respectively, with significant export declines, particularly in machinery and watches. This has caused uncertainty and potential job losses as companies adapt to higher costs and consider production shifts.
The meeting aimed to strengthen economic ties between Switzerland and the US. Despite challenges posed by US tariffs, Swiss business leaders remain committed to trade negotiations. The impact of tariffs on Swiss industry has led to revised economic growth projections and export declines, necessitating adaptation and potential production shifts.
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