Swiss companies are facing uncertainty following Donald Trump’s announcement of a new 10% global tariff, with experts indicating a lack of clarity regarding the specific rates that will be applied.
Until recently, the tariff imposed on the Confederation stood at 15%. The 10% announced by the U.S. President represents “a new general base. But it’s unclear whether the two taxes will coexist, or if the 10% will replace the 15%, potentially with the addition of other taxes later,” explained John Plassard, Head of Investment Strategy at Cité Gestion, on Saturday, according to reporting from RTS.
“It’s very difficult to interpret,” added Philippe Cordonnier, Head of Swissmem’s Western Switzerland region. The Supreme Court decision didn’t provide “all the keys” needed for a clear understanding.
>> Relire : Donald Trump signe un nouveau droit de douane de 10% pour le monde entier dès mardi
“Accord indispensable”
Cordonnier emphasized the “absolute necessity” of reaching a negotiated agreement between Bern and Washington. “An agreement is extremely important to provide exporters with long-term prospects,” he insisted.
He noted that the machinery industry sector already experienced a decline of “nearly 20%” in exports to the U.S. Market in 2025 due to existing tariffs. The U.S. Represents the sector’s “second largest export market, accounting for around 15% of its share,” Cordonnier indicated.
Remboursement des anciens droits de douane “compliqué”
Regarding potential refunds of previously paid tariffs, Cordonnier described the process as “extremely complicated,” requiring tracing back through the supply chain. “Refunds can only be made to the party in the United States who paid the taxes,” meaning “distributors, importers, or customers,” he clarified.
Many of the affected companies are compact and medium-sized enterprises (SMEs), and recovering potentially overpaid tariffs would represent an administrative burden often exceeding the financial gain, according to the RTS report. “They prefer to look at the long term and have certainty regarding future taxes,” Cordonnier concluded.
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