Latest News Highlights from Switzerland on a Wednesday
In recent developments, the United States has imposed significant tariffs on Swiss exports, affecting a wide range of goods. As of July 2025, most goods from Switzerland are subject to a 31% additional import duty, a move that is part of the broader U.S. tariff policy under the Trump administration, often referred to as "Trump administration 2.0."
This reciprocal tariff policy also includes country-specific rates, with Switzerland facing a 31% duty on many goods, despite not having received a further tariff negotiation letter from the U.S. Additional tariffs specifically target sectors like steel and aluminum, as well as vehicles and auto parts, which have been subject to duties of 25% or more since early 2025.
Goods in transit before May 27, 2025, are exempt from the new duties. However, the severity of these tariffs suggests significant concern within Swiss trade circles, analogous to documented EU reactions to increased tariffs.
Despite the challenging economic landscape, Swiss political and economic circles, almost unanimously, express confidence that the country will be spared a 'customs catastrophe.' In the city of Zurich, around 30,000 apartments become vacant each year, making it a competitive market. To secure an apartment quickly, one must act swiftly, according to real estate expert Donato Scognamiglio.
Interestingly, some people in Zurich have been scanning obituaries daily to secure apartments, a strategy that, while unconventional, reflects the high demand in the city's real estate market.
Meanwhile, in other parts of Switzerland, the economic landscape paints a different picture. House prices in central Switzerland have risen by 5.9 percent, and in the eastern cantons, they increased by 4.8 percent. The Lake Geneva region experienced a 2-percent increase in house prices.
In a separate incident, French thieves have been stealing cars from dealerships in German and French-speaking Switzerland for several weeks. These car thefts sometimes result in car chases reminiscent of Hollywood movies, with the thieves taking risks and endangering road users and police forces during their escapes.
Despite these challenges, the Swiss economy continues to show resilience, with the country not being included in the letters published by President Trump with new tariff information. The future of Swiss-American trade relations remains uncertain, but for now, the Swiss economy seems to be holding its ground.
The current tariff policy imposed by the U.S. on Swiss exports, affecting a wide range of goods, has sparked discussions in both Swiss political and economic circles, intertwining finance, business, and politics. Additionally, the rise in house prices across Switzerland, coupled with unusual strategies such as scanning obituaries for vacant apartments, indicates a general-news story of a competitive and evolving real estate market within the country, and somewhat indirectly, its interconnections with the crime-and-justice sector due to the ongoing car thefts in certain regions.
