ZURICH (Reuters) – Swiss tech companies are facing a serious setback from trade tariffs imposed by the United States on Switzerland, industry association Swissmem said on Thursday.
“The new tariffs are a severe blow to companies in the Swiss tech industry, which are in a difficult situation after many months of declining sales,” Swissmem said in a statement.
U.S. President Donald Trump on Wednesday imposed a 31% tariff on imports from Switzerland compared with 20% on goods from the European Union and 10% from Britain.
(Reporting by Dave Graham, Editing by Friederike Heine)
