Swiss economists expect slower growth due to US tariffs

Published on October 16, 2025

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The Swiss economy is not gaining momentum, the State Secretariat for Economic Affairs (SECO) said on Thursday, pointing to United States President Donald Trump's tariffs as the culprit. + Get the most important news from Switzerland in your inbox The federal government's group of economic experts is forecasting growth in real gross domestic product (GDP) of 1.3% for 2025 and 0.9% for 2026. These are significantly below-average figures. The economists believe that the current second half of 2025 will be particularly weak. This is because the trade policy environment is now particularly challenging for Switzerland. + Tariffs dampen Swiss economic growth prospects SECO points to the high US tariffs of 39% imposed by the Trump administration in August. Because comparatively lower tariffs apply to most of the US's other trading partners, the competitiveness of Swiss exporters on the US market has deteriorated. SECO describes this as a "heavy burden". The ongoing uncertainty is slowing ... Full story here Are you the author?

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