USA's 39% Tariff on Swiss Goods Slams Tech, Watch Industries; Revenue Surges Sixfold
The USA has implemented a 39 percent tariff on Swiss goods since August 1, 2025, significantly impacting Swiss exports to the US, which have dropped by over 20 percent. This move has heavily affected the tech and watch industries, with only a fifth of tech companies maintaining their market position.
Prior to the tariff hike, the chemical industry, excluding pharmaceuticals, was the third-largest contributor to US tariff revenues from Switzerland, accounting for 0.8 percent. However, since August, the tariff burden on the tech and watch industries has increased nearly tenfold, with around 80 percent of revenues coming from these sectors.
The increased tariffs have also affected other industries. Coffee, previously duty-free, is now significantly impacted, particularly affecting Nespresso. US tariff revenues on Swiss goods surged from around $30 million per month to approximately $184 million per month between April and July, a sixfold increase.
The 39 percent tariff on Swiss goods has led to a substantial drop in Swiss exports to the US and has heavily burdened the tech and watch industries. The USA collected significantly more in tariff revenues from Switzerland, with the chemical industry previously being a major contributor. The impact on other sectors, such as coffee, is also notable.
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