Trump's 2025 tariffs on Swiss goods cost US buyers billions in extra fees
US tariffs on Swiss goods have surged in 2025, costing importers and consumers billions. The measures, introduced by President Donald Trump, saw duties rise to 10 percent in April and then 39 percent from August. Swiss industries, particularly watchmaking and tech, now face steep financial burdens.
The US government collected roughly $2 billion in customs duties on Swiss imports from January to November 2025. This marked a six-fold increase compared to the previous year. The sharp rise followed Trump's decision to raise tariffs in two stages: first to 10 percent in April, then to 39 percent in August.
The Swiss watch industry bore a heavy load, accounting for nearly a quarter of the total US customs revenue from Switzerland. Its tariff burden jumped from $102 million to $486 million over the year. Meanwhile, the tech sector—covering machinery, electrical, and metal goods—faced a 13-fold increase in duties, totalling around $1.1 billion.
Most of the tariff costs were passed on to US buyers, with foreign exporters absorbing only about 4 percent. Swiss exports to the USA grew by 3.9 percent overall in 2025, but the tech sector struggled under the higher duties. Some companies even halted sales to the US market after August, though exact figures for the machinery and electrical industries remain unclear.
The tariff hikes have reshaped trade between Switzerland and the USA. Swiss exporters now pay far more in duties, with US consumers and businesses covering most of the extra costs. The long-term impact on Swiss industries, especially watches and tech, will depend on how markets adjust to the new conditions.
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