Swiss industry group warns Trump tariff hike is fueling global economic chaos

Swissmem reports that the U.S. tariff increase to 15 percent is stifling investment. The group urges Bern to finalize a trade deal to ensure legal certainty.

U.S. President Donald Trump announced on February 23, 2026, an increase in a temporary tariff on imports into the United States USUS from 10% to 15%. The move has immediate implications for trade relations with Switzerland CHCH, as it raises effective duties on Swiss industrial goods and complicates ongoing Switzerland-U.S. bilateral tariff talks that the United States government in Washington aims to conclude by the end of March.
An employee assembles a fully automatic coffee machine at Swiss manufacturer Thermoplan's plant in Weggis, Switzerland, on August 27, 2025, as 39% U.S. tariffs on Swiss goods threaten profit margins and force the company to consider relocating production. REUTERS/Denis Balibouse/File Photo
An employee assembles a fully automatic coffee machine at Swiss manufacturer Thermoplan's plant in Weggis, Switzerland, on August 27, 2025, as 39% U.S. tariffs on Swiss goods threaten profit margins and force the company to consider relocating production. REUTERS/Denis Balibouse/File Photo
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