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Swiss government slashes growth outlook as Trump tariffs put ‘heavy burden’ on economy
Swiss GDP growth forecast cut to 0.9% for 2026 due to 39% US tariffs on exports and a 12% rise in the Swiss franc, officials said.
- On October 16, 2025, the Swiss federal government's group of economic experts forecast GDP growth of 1.3% for 2025 and 0.9% for 2026, citing the Trump administration's tariffs as a heavy burden on industries.
- In August, U.S. tariff actions imposed 39% tariffs on Swiss goods and the Swiss franc gained more than 12% this year, leaving Swiss exporters at a competitive disadvantage, SECO said.
- An estimate shows a roughly 0.86% hit to Swiss GDP in two years, with unemployment forecast at 2.9% for 2025 and 3.2% for 2026, officials said.
- Swiss officials warned that global demand will rise only modestly, while a stronger franc pressures the Swiss National Bank as forecasts assume tariffs remain unchanged.
- ING economist Charlotte de Montpellier recently revised her 2026 forecast to 0.8% and warned risks are tilted to the downside, increasing recession chances without a U.S.-Switzerland agreement.
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In 2025, the Seco expects real gross domestic product to grow by 1.3 percent. For 2026, only 0.9 percent.
·Zürich, Switzerland
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UPDATE 1-Swiss government slashes economic outlook for 2026 as tariffs set in
The Swiss government cut its 2026 economic growth forecast on Thursday, saying the U.S. tariffs were additional burdens on exporters and the nation's broader economy. It now expects 0.9% economic growth in 2026, below the 1.2% growth forecast in June, while maintaining its 1.3% projection for 2025.
·India
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Coverage Details
Total News Sources19
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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