US tariffs on Swiss goods send customs revenue soaring to $2 billion in 2025
The USA has seen a sharp rise in customs revenue from Swiss imports in 2025. Tariffs introduced by the IRS in August pushed duties to over $2 billion—six times higher than the previous year. Swiss watches and tech products have been hit hardest by the new 39 percent levy.
In August, President Donald Trump imposed a 39 percent tariff on Swiss goods, one of the highest rates for any country. The move immediately impacted trade, with Swiss exports to the USA weakening since then.
The watch industry, a key Swiss export, now accounts for nearly a quarter of US customs revenue from Switzerland. Duties on watches jumped from $102 million to $486 million in 2025. Meanwhile, the tech sector—covering machinery, electrical, and metal products—saw duties rise thirteenfold to over $1.1 billion.
Most of the tariff cost is passed on to US buyers. Around 96 percent of the burden falls on American consumers and businesses, while only 4 percent is absorbed by Swiss exporters. Some Swiss companies have even halted sales to the US market due to the higher costs.
The new tariffs have reshaped trade between the two nations. US customs revenue from Switzerland has surged, but American buyers now face significantly higher prices. Swiss exporters, particularly in watches and tech, are adjusting to the new financial pressures.
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