Swiss government slashes economic outlook for 2026 as tariffs set in

The Swiss economy is forecast to grow by 1.3% in 2025 and 0.9% in 2026, the government said on Thursday, lowering its forecasts for next year as U.S. tariffs dampen activity in the export-orientated country. Switzerland is struggling to adapt to the 39% import duties imposed by Washington in August, among the steepest charges under President Donald Trump's trade policy reset.

As a result of the tariffs and general trade uncertainty, the government on Thursday downgraded its forecasts for economic growth for 2026 from the 1.2% projection it issued in June and maintained its forecasts for 2025. The forecasts are adjusted for the impact of sporting events.