Swiss exporters are grappling with a year of erratic US trade policy, as tariffs on Swiss goods have swung dramatically from 39% down to 12.5% under President Donald Trump.
The volatility has created significant uncertainty for companies ranging from luxury goods makers to food producers, who must constantly adjust to new duty structures.
The tariff rollercoaster began on Switzerland’s National Day last year, when the US administration imposed steep duties on Swiss imports.
Since then, multiple adjustments have been made, leaving firms to manage compliance costs and pricing strategies in an unpredictable environment.
Small and medium-sized enterprises (SMEs) have been particularly affected, as they lack the scale to absorb sudden cost increases or navigate complex regulatory changes.
Victorinox, the maker of Swiss Army knives, and Ricola, known for its herbal lozenges, are among the companies that have had to adapt to the shifting landscape.