Donald Trump’s tariffs threaten to dent Swiss exports. They have also sparked what Joseph de Weck, a Swiss historian and political scientist, calls an identity crisis in a country long used to navigating between great powers. Mr Trump treats trade deficits as the source of almost every American ill—debt, deindustrialisation, even the opioid crisis. Tariffs […]
Swiss jobs market: more workers, more jobless
Switzerland’s labour market looked both buoyant and brittle in the second quarter of 2025. Employment edged up, but unemployment did too, according to a report published by the Federal Statistical Office this week. The number of people in work rose by 0.6% year on year to 5.36m, according to the Federal Statistical Office. Adjusted for […]
Swiss federal deficit far smaller than feared
Switzerland now expects a much smaller federal deficit in 2025, reported RTS. The shortfall should be about CHF 200 million, versus the CHF 800 million pencilled into the budget. Bern says the improvement does not alter its savings programme. The better than expected result driven by a windfall rather than a trend. The upgrade stems […]
Most Swiss against making concessions to the US
Swiss voters expect pain from America’s new border taxes but do not want Bern to blink. In a YouGov Switzerland poll, two-thirds (66%) say the 39% tariff on Swiss exports to the United States—introduced on 7 August 2025—will significantly harm the economy. Only 5% foresee little or no impact. Despite that, just a quarter (25%) […]
Trump tariff u-turn triggered by Swiss gold refiner’s request for guidance
After 23 hours of pandemonium in bullion markets, the White House has hinted it may row back on a decision that sent gold traders scrambling. An executive order, to be issued “in the near future”, will clarify that imports of gold bars are not, in fact, subject to tariffs, according to an official statement, reported […]
Switzerland’s jobless rate holds steady
Switzerland’s unemployment rate held steady at 2.7% in July 2025, unchanged from the previous month, according to data published this week by the State Secretariat for Economic Affairs (SECO). Adjusted for seasonal variation, the figure remained flat at 2.9%. SECO’s Directorate of Labour, noted that current joblessness is broadly in line with the Swiss labour […]
The Swiss cantons hit hardest by Trump’s tariffs
Not all Swiss cantons are equally exposed to America’s new tariff regime. Some—particularly those with close industrial or economic ties to the United States—stand to lose far more than others, reported RTS. Nidwalden tops the list of those most affected. Nearly half of its exports cross the Atlantic, largely thanks to Pilatus, the aircraft manufacturer […]
Swiss central bank hit by 15 billion franc loss
The Swiss National Bank (SNB) reported a first-half loss of CHF 15.3 billion, dragged down by foreign-currency positions that turned sharply negative in the second quarter. After posting a profit of CHF 6.7 billion in the first three months of the year, the central bank recorded a loss of CHF 22 billion between April and June—wiping out earlier […]
Switzerland to be hit with 39% Trump tariffs
Switzerland has found itself on the sharp end of Washington’s latest tariff barrage. On August 7th, a 39% levy on Swiss imports is set to take effect—one of the steepest rates imposed by the United States in a sweeping round of trade measures ordered by President Donald Trump. The tariffs follow the expiry of a […]
Swiss retailers squeezed by shopping tourism
Swiss retail endured a bruising first half of 2025. Sales between January and June fell by an estimated 1.9% compared with the same period last year, according to the Swiss Retail Federation, which analysed debit and credit card transactions. Physical stores bore the brunt, with revenues dropping 2.2%, while online sales eked out a modest […]
