Swiss exporters are worried about the threats that President elect-Trump has made over tariffs.
Switzerland exports more finished products to the US than any other country. Many of those are high-value, such as machinery, watches and pharmaceuticals.
While the details are not known, analysts believe tariffs could reach levels not seen since the 1930s – around 20%.
The KOF economic institute says that the US move could cut 0.2% off the economy initially, but if sustained – could result in GDP losing 1%.
A secondary worry is that the EU and China will take retaliatory measures – pushing up their own import tariffs.
Geneva unions call for strike today
Local businesses demand tough action ahead of G7
UBS rejects proposed new banking rules
Govt backs Sunday trading relaxation
Lausanne metro to get major upgrade
Speed camera flashes everyone
