Swiss exports to US rise in 2025 despite tariffs

A cargo ship full of shipping containers is seen at the port of Oakland, California, U.S., August 4, 2025. REUTERS/Carlos Barria · Reuters

Reuters

January 30, 2026 1 min read

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ZURICH, Jan 29 (Reuters) - 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)

(Reporting by ‌Ariane LuthiEditing by Bill Berkrot)

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