39 percent - with these tariffs, Trump punished Switzerland for its large trade deficit. This is a huge problem for business in the small European country, whose largest trading partner is the US.
39 percent - on August 1, Donald Trump announced that these are the tariffs with which he will tax imports from Switzerland. For the small but rich European country, this is becoming a serious challenge, because the US is its largest trading partner.
Swiss companies are moving to the EU
ARD tells about the company "Termoplan", which manufactures coffee machines for the American giant "Starbucks". Trump's tariffs are costing the company 200,000 euros a week, says CEO Adrian Steiner.
Swiss businesses are currently trying to reorient themselves towards EU countries, and in particular Germany, on which the US has imposed tariffs of just 15%. Studies show that a large percentage of companies are considering relocating their production. "Thermoplan" is one of them. The company's offices in the German state of Baden-Württemberg are already being converted into a production hall so that coffee machines can be assembled there and exported to the US more cheaply.
"Germany and the EU have reached a better customs deal with the US. We want to take advantage of it," says Swiss MP Simon Michel, who also heads the medical company "Ipsomed". But he clarifies: "Switzerland will never become a member of the European Union. We have a relationship based on trust that works perfectly."
His company makes insulin pens for diabetics. About half of the production will be moved to Schwerin, Germany in the future.
The government in Bern is trying to reach an agreement
The US tariffs have already changed the policies of a number of companies, although a US appeals court ruled that some of them were illegal. The Supreme Court is also due to rule.
The government in Bern is trying to reach an agreement with the US. The large trade deficit between the two countries, which is more than 40 billion euros, is mainly due to gold imports, from which Switzerland earns very little, however, as it is only melted down in the country. This could change as part of a future deal. The details are still being kept secret, but sources say that some of the melting could be moved to the US, ARD writes.