US Tariffs: 'They Won't Disappear with Trump' (cross-border guide)
The director of the SECO, Helene Budliger Artieda, predicts that US tariffs will not disappear even after the end of Donald Trump's mandate.
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US Tariffs: "Will Not Disappear with Trump" The Director of the SECSE, Helene Budliger Artieda, stated that the reindustrialization of the US is an issue that goes beyond the political divisions within the country. "This policy will not disappear if a democratic president is elected to the presidency of the United States," Artieda warned. The SECSE believes that the United States depends on these revenues to present a balanced budget. The US customs tariffs policy, enacted in 2018 by Donald Trump, has had a significant impact on international trade. According to a report by the SECSE, in 2020 Switzerland exported goods for approximately 4.5 billion Swiss francs (CHF) to the United States, while importing goods for approximately 3.8 billion CHF. This has resulted in a trade surplus for Switzerland of approximately 700 million CHF. However, the SECSE is concerned about the impact of tariffs on economic growth. According to an estimate by the Swiss National Bank (SNB), a 10% increase in customs tariffs could reduce Switzerland's economic growth by approximately 0.2 percentage points. Furthermore, the SECSE believes that the United States depends on these revenues to present a balanced budget. The SECSE has also stated that the US customs tariffs policy could have a negative impact on international trade. According to a report by the SECSE, in 2020 international trade was affected by approximately 20% of the US customs tariffs applied. This has led to a 10% increase in prices of goods exported by Switzerland. The SECSE has also noted that the US customs tariffs policy could have a negative impact on Switzerland's economic growth. According to an estimate by the SNB, a 10% increase in customs tariffs could reduce Switzerland's economic growth by approximately 0.2 percentage...
Punti chiave
The Swiss Confederation should focus on favorable framework conditions and refrain from experiments in industrial policy. 'This is what makes us unique and makes our market an interesting place. Companies appreciate it,' said State Secretary Marina Artieda. Switzerland has a long tradition of neutrality and stability, which makes it an important hub for exports. Switzerland has already felt the impact of the US tariffs imposed in 2018. According to data from the Federal Customs Administration, Swiss exports to the United States decreased by 7% in 2019 compared to the previous year. However, Switzerland is not the only country to have been affected by the tariffs. Some examples of cantons that have been significantly impacted are the canton of Ticino and the canton of Valais, which have seen a decrease in exports to the United States of 10% and 12% respectively. Switzerland has already taken a series of measures to mitigate the impact of the tariffs. For example, the Swiss government has increased funding for companies operating in the export sector. Additionally, the government has also established a solidarity fund for companies that have suffered a significant economic impact due to the tariffs. Switzerland should continue to work to improve its competitiveness and reduce the impact of tariffs. Some measures that could be adopted include: - Improving access to foreign markets - Increasing investments in infrastructure - Developing training programs for companies - Improving communication with customs authorities Switzerland has already demonstrated its importance as a commercial partner for the United States. In 2020, Swiss exports to the United States were approximately CHF 13.4 billion. Switzerland should continue to work to improve its competitiveness and reduce th...
Punti chiave
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Frequently Asked Questions
- What does the end of Donald Trump's mandate mean for US tariffs?
- The end of Donald Trump's mandate will not lead to the disappearance of US tariffs, according to SECO Director Helene Budliger Artieda.
- Why is US reindustrialization a matter that transcends domestic political divisions?
- US reindustrialization is a matter that transcends domestic political divisions because the United States relies on these revenues to present a balanced budget.
- What should Switzerland do to face the current international situation?
- Switzerland should focus on favorable framework conditions and refrain from experiments in industrial policy.