Switzerland's ongoing trade dispute with the United States remains unresolved, keeping exporters under pressure despite being two months on from Washington's decision to impose a steep 39 percent tariff on most Swiss goods.
The move in early August blindsided Swiss officials and exporters, as the tariff level far exceeded expectations from earlier talks. Key industries, from luxury watchmaking and precision instruments to dairy and machinery, have reported rising costs and lost competitiveness.
While the Swiss economy minister, Guy Parmelin, met with the US treasury secretary this month, he admitted there was "no sign of progress" on reducing or removing the tariffs.
Many Swiss companies are actively re-engineering supply chains to soften the blow of higher US duties as manufacturers warn of shrinking margins and declining orders as the higher tariffs take hold in key U.S. markets.
With no resolution in sight, Swiss officials are continuing dialogues with Washington. Industry stakeholders are calling for faster political engagement, but the immediate outlook remains uncertain.
Official figures do show a 43 percent rebound in Swiss exports to the US in September. Howewver, this was driven largely by pharmaceuticals, a sector not covered by the tariff measures.