International Market Access
12.5 percent U.S. tariffs: Uncertainty Persists for Swiss Companies
24.07.2026
AI-translated. Some sections may contain inaccuracies.
At a glance
- The U.S. is imposing a 12.5 percent tariff on Swiss imports under Section 301, citing allegedly insufficient measures against forced labor.
- For economiesuisse, this decision is neither understandable nor justified. It puts Swiss companies at a disadvantage compared to competitors from countries with lower tariff rates, including the EU and the United Kingdom.
- Uncertainty for Swiss companies persists due to the ongoing Section 301 investigation into alleged overcapacity.
Since February 24, 2026, a flat-rate additional tariff of 10 percent has applied to imports into the U.S. under Section 122 of the Trade Act. This measure is now expiring. It will be replaced for Swiss imports by a new tariff rate of 12.5 percent based on the Section 301 investigation into forced labor. For all products with a Most-Favored-Nation (MFN) tariff rate of less than 12.5 percent, the Section 301 tariff rate will now apply in the future. For products with an MFN tariff rate exceeding 12.5 percent, the higher MFN tariff rate will remain in effect.
From economiesuisse’s perspective, this decision is neither understandable nor justified. It places an additional burden on Swiss companies in the important U.S. market and creates competitive disadvantages compared to countries with lower tariff rates, including the EU and the United Kingdom.
The allegation of forced labor is unfounded
Meanwhile, economiesuisse firmly rejects the accusation that Switzerland is not doing enough to combat the import of goods produced through forced labor. There is no evidence that Swiss supply chains are being used to smuggle goods produced through forced labor into the U.S. market. Forced labor is already prohibited in Switzerland under constitutional, civil, and criminal law. In addition, Switzerland has ratified the relevant ILO conventions and implemented the UN Guiding Principles on Business and Human Rights.
Uncertainty for businesses persists
Reliable and predictable framework conditions are crucial for businesses. With today’s announcement, the U.S. is currently adhering to the joint statement agreed upon last november. This statement sets a cap of 15 percent on most U.S. import duties on goods from Switzerland. For its part, Switzerland has already implemented key elements of the joint statement.
At the same time, the new tariff rate increases the costs of Swiss exports without eliminating the existing uncertainty. This makes it all the more important that the ongoing Section 301 investigation into alleged overcapacity in industrial production does not result in any additional tariff burdens.
Discussions with the U.S. must therefore be pursued consistently. The goal remains to eliminate the competitive disadvantage vis-à-vis the EU and other competitors and to prevent further trade policy uncertainties. economiesuisse continues to support the Federal Council in its efforts to reach a binding agreement with the U.S.
