US tariffs: Federal Council to adapt negotiations
Berne, 04.08.2025 — Following the United States’ announcement of a higher 39% tariff on Swiss imports, the Federal Council decided on 4 August to continue negotiations. It remains in close contact with the affected sectors of the Swiss economy and with US officials. Switzerland is committed to securing fair treatment compared with its key competitors to safeguard favourable conditions for its economy.
The Federal Council is determined to pursue discussions with the United States beyond the current joint statement proposal and, if necessary, beyond the 7 August deadline. Through its contacts with the business community, the Federal Council has developed new approaches for its discussions with the United States and will continue negotiations with the aim of reaching a trade deal. Switzerland enters this new phase ready to present a more attractive offer, taking US concerns into account and seeking to ease the current tariff situation.
Switzerland and the United States share a strong economic relationship. Bilateral trade has quadrupled over the past 20 years. Switzerland is now the sixth-largest foreign investor in the US and the leading investor in research and development. The Federal Council is keen to preserve and build on these dynamic ties.
The new tariffs, announced by Washington on 31 July, would mean that nearly 60% of Swiss exports to the US face a 39% surcharge from 7 August onwards. This puts Switzerland at a distinct disadvantage compared with other trading partners with similar economic profiles (EU: 15%, UK: 10%, Japan: 15%).
Switzerland’s trade surplus to March 2025 is not the result of any “unfair trade practices”. In fact, Switzerland unilaterally scrapped all tariffs on industrial goods as of 1 January 2024, meaning over 99% of US goods enter Switzerland tariff-free. Moreover, Switzerland does not apply industrial subsidies that could distort competition.
The Federal Council is not currently considering any countermeasures.
In line with its foreign and trade policy strategies, the Federal Council will continue to diversify its trade relationships across global markets.
To help prevent redundancies in the event of temporary and unavoidable job losses caused by the new tariffs, Switzerland will rely on its well-established short-time working compensation scheme. The Federal Council is closely monitoring the situation and stands ready to act swiftly should the need arise.
Links:
US Customs and Border Protection: www.cbp.gov/trade
SECO: United States (https://www.seco.admin.ch/seco/en/home/Aussenwirtschaftspolitik_Wirtschaftliche_Zusammenarbeit/Wirtschaftsbeziehungen/usa.html
Switzerland Global Enterprise (S-GE): https://www.s-ge.com/en