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UBS on Implications of U.S. Tariffs for The Swiss Economy

BY MT Newswires | ECONOMIC | 08/18/25 11:38 AM EDT

11:38 AM EDT, 08/18/2025 (MT Newswires) -- The gross domestic product growth of Switzerland "significantly" slowed in Q2 as United States tariffs hit Swiss exports, said UBS.

The bank's GDP forecast for Switzerland assumes 15% U.S. tariffs on Swiss goods -- excluding gold and pharmaceuticals.

If tariffs remain at 39%, UBS believes Swiss GDP growth could be reduced by up to 0.4 percentage point.

While up to 0.4% of employment may be at risk if tariffs remain at 39%, the short-time work scheme should help cushion the impact on the labor market and limit the increase in unemployment, in the bank's view

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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