Swiss exports to US rise in 2025 despite tariffs

Swiss companies front-loaded goods exports to the United States in anticipation of tariffs, which President Donald Trump said he wanted during ⁠his election campaign. Overall, Swiss exports rose 1.4% to a record 287 ⁠billion francs last ‌year, driven by chemical and pharmaceutical products, which made up over half the total, the data ⁠showed.

Switzerland's exports to the United States rose 3.9% in 2025, the federal ‌customs office said on Thursday, outpacing overall export growth despite the Alpine country facing some of the ⁠highest U.S. tariffs worldwide. Washington in April threatened to impose a 31% tariff rate on Swiss goods but ultimately hit Switzerland with a 39% ​rate when it applied the levy in August.

The Trump administration ‍said the tariffs were justified by the size of the U.S. trade deficit with Switzerland. The United States later cut those tariffs to 15% in November after ⁠striking ‌a deal with ⁠Switzerland, putting the country on a level playing field with the European Union.

Excluding ‍gold, other precious metals, precious stones, gems, artworks and antiques, Swiss exports ​to the U.S. hit 54.7 billion Swiss francs ($71.4 billion) in 2025, ⁠the data showed. Swiss imports of U.S. goods fell by 5.7% to 13.3 billion ⁠francs. Swiss companies front-loaded goods exports to the United States in anticipation of tariffs, which President Donald Trump said he wanted during ⁠his election campaign.

Overall, Swiss exports rose 1.4% to a record 287 ⁠billion francs last ‌year, driven by chemical and pharmaceutical products, which made up over half the total, the data ⁠showed. ($1 = 0.7660 Swiss francs)

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