Switzerland has assessed the impact of the new US duties on the country’s economy

The Swiss government believes that the country’s economy will not enter a recession at the moment, despite the US duties, Swiss Economy Minister Guy Parmelin said at a press conference.
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Earlier, US President Donald Trump announced the imposition of duties of 31% on all Swiss goods.

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“The Federal Council believes that although the new US duties will also directly or indirectly affect the Swiss economy, the Swiss economy should not be expected to enter a recession at this time,” he said.

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In March, the Swiss State Secretariat for the Economy (SECO) revised down its forecasts for the country’s GDP growth for 2025 and 2026 published in December: from 1.5% to 1.4% in 2025 and from 1.7% to 1.6% in 2026.