US tariffs: an important step, but further action is still needed

The significant reduction in US basic customs duties on Swiss export products from 39% to 15% marks an important success for Swiss industry. scienceindustries welcomes this step as a tangible relief for Switzerland as an export-oriented business location. The task now is to convert the non-binding memorandum of understanding into law as quickly as possible.

scienceindustries welcomes the decision by the US authorities to reduce the basic tariffs on Swiss export products from 39% to 15%. This tangible relief is a significant step forward for Switzerland's export-oriented industry and strengthens the international competitiveness of Switzerland as a business location. This non-binding memorandum of understanding ensures that Swiss companies receive the urgently needed equal treatment with key competitors in the American market, particularly those from the EU and Japan. The decision sends an important signal to the entire industry and underlines the importance of stable and fair conditions in global trade.

scienceindustries would like to express its sincere thanks to the Swiss authorities and all parties involved for their commitment and successful negotiations, which have led to this relief. The constructive cooperation has contributed significantly to representing the interests of the Swiss export industry and achieving a solution.

At the same time, it should be noted that even a 15% tariff rate continues to represent a considerable burden and is significantly higher than the status quo ante that applied before the introduction of the punitive tariffs. For a highly integrated and innovative industry that depends on reliable international trading conditions, the goal must be a complete return to the previous tariff-free conditions. In particular, the continued strength of the Swiss franc against the US dollar and the euro is an additional significant challenge for our member companies.

The situation remains challenging for the pharmaceutical industry: the situation regarding US pharmaceutical tariffs must be clarified as quickly as possible. It is currently still unclear whether high-quality pharmaceutical products will be subject to additional burdens in the future. A sustainable solution is needed to keep bilateral trade stable and predictable in this area as well.

Against this backdrop, scienceindustries expects Switzerland to continue to strengthen and further improve its economic policy framework in a targeted manner in order to reinforce its position as a business location and safeguard its international competitiveness.

Further information:
Stephan Mumenthaler, Director
Tel. 044 368 17 20, stephan.mumenthaler@scienceindustries.ch

Erik Jandrasits, Head of Foreign Trade
Tel. 079 473 66 33, erik.jandrasits@scienceindustries.ch