Matthias Geissbühler, Cio Raiffeisen Switzerland:
«This is very bad news for the Swiss export industry. It is particularly hard for companies that primarily produce in Switzerland and export a lot to the USA. In addition to the tariffs, the currency effect is added. The devaluation of the US dollar by over 10 percent since the beginning of the year is an additional burden. Almost 50 percent more expensive are cumulative. Such price increases can also be fully impossible for market leaders with a high pricing power.
Globally, Swiss companies with a strong production base in the USA and of course the entire service sector are less impaired. Further attempts to talk at the government level are now being reopened. At the moment, however, there are little promising signs that these tariffs can still be averted at short notice. There are certain hopes that US dishes declare the flat-rate tariffs as illegal.
And otherwise it would now be urgently needed to relieve the domestic industry and the SMEs with massive deregulation and de -bureaucratization in Switzerland. This does not need approval from the white house. »
