News ticker: Trump 2.0 trade policy - consequences for Switzerland

As part of the economic and scientific mission to the United States, Swiss President Guy Parmelin presented U.S. Trade Representative Jamieson Greer with a statement on the further implementation of the Joint Statement concluded last November. Among other things, the plan calls for simplifications in the recognition of U.S. standards in the areas of conformity assessment bodies, medical devices, passenger cars, and public procurement. 

Mutual compliance with the Joint Statement and a maximum tariff rate of 15 percent remain crucial for the Swiss export sector. Uncertainties persist due to ongoing U.S. Section 301 investigations, which could result in additional trade policy measures.

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U.S. president Trump threatens in a post on Truth Social that he will impose tariffs of up to 100 percent on all exports to the U.S. if European countries introduce digital taxes. The measure is intended to replace existing trade agreements, regardless of their status. The European Commission rejects the threat and emphasizes its right to regulate; in the event of tariffs, it intends to respond decisively.

The EU member states have definitively approved the trade agreement with the U.S. The plan calls for the elimination of tariffs on U.S. industrial goods as well as improved market access for U.S. agricultural products and seafood. Implementation will take place following publication in the official journal. A safeguard mechanism ties benefits to the U.S.’s compliance with its obligations.

U.S. Trade Representative Jamieson Greer has launched a Section 301 investigation against Germany. Washington accuses Berlin of systematically underpaying for innovative drugs, causing U.S. patients to bear a disproportionate share of global R&D costs. The focus is also on Germany’s planned healthcare reform, which includes further cost cuts. Depending on the outcome, trade policy measures—including punitive tariffs—could be imposed.

The European Parliament has approved tariff reductions on numerous U.S. imports, thereby paving the way for the implementation of the trade agreements with Washington ("Turnberry Deal"). The plan is for the EU to eliminate tariffs on U.S. industrial products and facilitate market access for agricultural products and seafood. In return, the U.S. is to impose a 15 percent tariff on most EU products.

However, the EU’s concessions will only apply if Washington fulfills its obligations—particularly regarding tariffs on washing machines and products containing steel. Otherwise, Brussels intends to consider countermeasures. The agreement is set to expire at the end of 2029.

Following approval by the Parliament, the EU Council of Ministers must still give its consent. However, this is considered a formality. The rules are set to take effect no later than July 4.

US Trade Representative Jamieson Greer has announced new tariffs on a total of 60 countries under Section 301: Switzerland and most other major trading partners - including Japan, China, South Korea and Brazil - are to pay 12.5 percent. An import levy of 10 percent is planned for the EU, the UK, Canada, Mexico and Taiwan. Greer justifies the proposal by arguing that trading partners are doing too little to prevent imports of goods from forced labor. The tariffs are not yet definitive: a consultation will run until July 6, 2026.

The EU Council and the EU Parliament have reached a provisional agreement on the implementation of the EU-US Joint Statement agreed on August 21, 2025. In particular, the agreement provides for the elimination of remaining EU tariffs on US industrial goods, tariff quotas or reduced tariffs for selected US agricultural and fishery products and an extended tariff suspension for lobster imports. Safeguard clauses should enable the EU to suspend concessions if the USA does not meet its obligations or EU interests are affected. The agreement must now be formally adopted by the Council and the European Parliament before the new tariff rules can enter into force.

A US trade court has declared President Trump's blanket 10 percent tariff on imports unlawful. The judges reasoned that Section 122 of the Trade Act only applies in the event of a genuine balance of payments problem. However, the government had essentially argued with trade deficits, which was not sufficient. The tariffs will remain in place for most importers for the time being, while the US government is appealing and will probably switch to other tariff bases such as Section 301 of the Trade Act.

US President Trump has given the EU until July 4 to implement its commitments from the 2025 trade agreement - in particular the reduction of tariffs on US industrial goods. Otherwise, it threatens to impose "significantly higher" tariffs on EU goods, including cars. Brussels points to progress, but still sees unfinished business in the legislative process.

US President Trump has announced on Truth Social that he intends to raise tariffs on cars and trucks from the EU from 15 to 25 percent this week. Vehicles manufactured in the USA are exempt. Trump justifies the latest tariff threat by saying that the EU is not implementing the trade agreement with the USA quickly enough. The agreement was concluded between Trump and EU Commission President von der Leyen in Scotland at the end of July 2025, but has not yet gone through all the instances in the EU. Brussels rejects the accusations and has announced that it will keep all options open in order to protect the interests of the EU should the tariff increase actually come into force. So far, it is unclear when the higher levy will apply.