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US tariffs, particularly on steel and aluminum, are creating significant challenges for Swiss exporters, especially in the mechanical, electrical, and metal industries. While the immediate impact is manageable, the uncertainty surrounding future tariffs and the associated administrative burdens are causing concern among companies. Additional customs payments could reach up to 800 million Swiss francs annually, complicating trade relations and raising questions about long-term customer retention.
The debate over UBS's role in the Swiss economy intensifies, with some economists arguing it is not irreplaceable, while others emphasize its significance for local businesses. The Federal Council's recent actions have raised concerns about increased dependence on UBS, which some view as a geopolitical risk. Meanwhile, foreign banks are expanding their presence, sensing an opportunity as UBS faces stricter capital requirements and potential relocation discussions.
Swiss businesses are optimistic about a new EU trade deal that aims to stabilize relations and enhance market access, crucial for the economy, which is projected to grow by 1.3% in 2025. The agreement will harmonize standards and support the pharmaceuticals sector, despite potential challenges in neighboring Germany. While the deal is a positive step, concerns about foreign demand persist, particularly in light of recent sales declines in the tech and engineering sectors.
Jean-philippe Kohler
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Swiss exporters face challenges amid US tariffs and trade uncertainties
10:59 30.03.2025
the debate on the necessity of UBS for the swiss economy
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