What is the overall impact of US tariffs on the Swiss economy according to the Institute for Economic Research?

According to the assessment of the Institute of Economic Research of the Federal Polytechnic University of Zurich, the rate of US customs duties, although higher than that of the EU, should only minimally curb the Swiss economy, reducing gross domestic product by clearly less than 0.1% at the macroeconomic level.

What are the percentage differences between the duties applied to Switzerland and those reserved for the European Union?

The United States imposes import duties of up to 12.5% on many Swiss products, while a ceiling of 10% applies to goods from the European Union, resulting in a difference of 2.5 percentage points against Swiss production.

Which economic sector is of key importance for future economic developments?

The pharmaceutical sector plays a decisive role, as its exports represent a substantial share of Swiss exports. The economic performance will depend on which companies and products will obtain exemptions or benefit from favourable conditions in the subsequent negotiations, as explained by Director Jan-Egbert Sturm.

US duties and impact on the Swiss economy: what changes (cross-border guide)

Di Redazione Frontaliere Ticino · Published on 26 July 2026

Castles of Bellinzona and Ticino landscape

According to the Economic Research Institute, the US duty rate slows the Swiss economy to a minimum, with impacts below 0.1%.

Context

In a nutshell

US duties of up to 12.5% on many Swiss products.
Impact on Swiss GDP less than 0.1%.
Reduced margins and EU competition for companies.
Pharmaceutical sector decisive for developments.

Key facts

What: Introduction of higher US customs duties than those in the European Union.
When: Since yesterday, the United States has been applying the new tariffs.
Where: United States and Switzerland, with repercussions on Swiss exports.
Who: Institute for short-term research of the Federal Polytechnic of Zurich and director Jan-Egbert Sturm.
Amount: Duties up to 12.5% for Switzerland, against the maximum ceiling of 10% for EU goods.

The Institute of Economic Research of the Federal Polytechnic University of Zurich has published an in-depth evaluation regarding the introduction of customs duties by the United States, which are higher than those applied to the European Union. According to Zurich economic analysts, this measure should only minimally slow down the performance of the Swiss economy as a whole. At the macroeconomic level, the difference of 2.5 percentage points between the tariffs applied to Switzerland and those reserved for European products would reduce gross domestic product by a measure clearly below 0.1%. This estimate highlights a general stability of the national economic system in the face of new overseas trade barriers.

However, the economic analysis shows that the

Operational details

The challenges for exporters and the pharmaceutical sector

The main difficulties are particularly felt by companies heavily focused on exports that operate in a situation of direct competition with suppliers from the European Union. Since the tax rate in the United States can reach up to 12.5% on many Swiss products, while for European goods there is a maximum rate of 10%, the tariff gap creates an evident competitive imbalance. This differential requires a review of commercial strategies for companies exporting to the Overseas, which must carefully consider the possibility of absorbing the higher costs or transferring them to the final prices, risking the loss of competitiveness.

A central role in the future economic trend will be played by the pharmaceutical industry. Experts from the Institute of Conjunctural Research emphasize that, since exports in this specific sector represent a significant share of the overall Swiss export, the economic evolution will depend to a large extent on which individual companies and specific products will benefit from any derogations. The same director of the institute, Jan-Egbert Sturm, has explained that much will also depend on the achievement of more favorable conditions in the course of further commercial negotiations between interested governments, leaving open the field to possible future regulatory developments.

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Key points

Strategic Evaluations and Future Prospects for the Swiss Economy

In light of an international context marked by rising trade barriers and fluctuating tariffs, Swiss and canton-based companies are urged to closely monitor the evolution of international negotiations. The difference in tariffs between Swiss products and those from the EU requires financial and commercial managers to meticulously plan cash flows and assess the sustainability of operating margins. The management of logistics chains and the optimization of production processes become critical factors to mitigate the disadvantages arising from U.S. customs delays.

Economic authorities and research institutions will continue to closely track the trends in exports, with particular attention to high-intensity export sectors such as pharmaceuticals and technology. Business operators aiming to delve into the impact of new regulations on corporate costs and labor dynamics can regularly consult the updates provided by sectoral analyses and leverage the economic and fiscal planning resources offered by sector platforms, ensuring a comprehensive and up-to-date view of the labor market and cross-border taxation.

For a detailed analysis of the components of taxation and costs related to managing employee compensation in the face of international economic changes, it is possible to consult the salary calculator.

Source: laregione.ch

Frequently Asked Questions

What is the overall impact of US tariffs on the Swiss economy according to the Institute for Economic Research?: According to the assessment of the Institute of Economic Research of the Federal Polytechnic University of Zurich, the rate of US customs duties, although higher than that of the EU, should only minimally curb the Swiss economy, reducing gross domestic product by clearly less than 0.1% at the macroeconomic level.
What are the percentage differences between the duties applied to Switzerland and those reserved for the European Union?: The United States imposes import duties of up to 12.5% on many Swiss products, while a ceiling of 10% applies to goods from the European Union, resulting in a difference of 2.5 percentage points against Swiss production.
Which economic sector is of key importance for future economic developments?: The pharmaceutical sector plays a decisive role, as its exports represent a substantial share of Swiss exports. The economic performance will depend on which companies and products will obtain exemptions or benefit from favourable conditions in the subsequent negotiations, as explained by Director Jan-Egbert Sturm.