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U.S. Imposes 39% Tariffs on Swiss Exports After Last-Minute Talks Fail

Swiss industries must count the cost of duties that took effect on August 7 after last-minute talks failed to win relief

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Swiss President Karin Keller-Sutter talks to the medias after a news conference, after meeting in separate bilateral meetings with Chinese and U.S. delegations ahead of trade talks in Geneva, Switzerland, May 9, 2025. REUTERS/Denis Balibouse/File Photo
U.S. Secretary of State Marco Rubio reacts as he testifies at a Senate Foreign Relations Committee hearing on U.S. President Donald Trump's State Department budget request for the Department of State, on Capitol Hill in Washington, D.C., U.S., May 20, 2025. REUTERS/Jonathan Ernst/File Photo

Overview

  • The 39% duties on Swiss watches, machinery, chocolate and cheese took effect on August 7, marking one of the steepest tariffs imposed by the Trump administration.
  • Swiss President Karin Keller-Sutter and Economy Minister Guy Parmelin held emergency talks with Secretary of State Marco Rubio on August 6 but left Washington without tariff reductions.
  • Bern is preparing to offer large investment commitments alongside proposals to buy U.S. energy products and defense equipment to secure relief.
  • Swiss business associations warn the punitive duties threaten tens of thousands of jobs and major damage to key export sectors.
  • President Trump has signaled that pharmaceutical imports could face separate tariffs rising to 150% within a year and potentially 250% thereafter.