Switzerland, "optimistic" for 2026 - US tariff cuts improve economic outlook
The Swiss government has improved its forecast for economic growth in 2026. This comes after an agreement with the United States to reduce import tariffs, a measure that will mitigate the impact of trade barriers on the country's exporters.
Bern agreed with Washington in November on a preliminary agreement that foresees the reduction of US tariffs from 39% to 15%.
The government's panel of economic experts now predicts economic growth of 1.1% for Switzerland in 2026, up from 0.9% in October.
"The reduction in US tariffs on Swiss products has improved the outlook and planning certainty for the sectors and companies directly affected," the government statement said.
However, this figure represents a slowdown compared to the 1.4% growth forecast for 2025. While according to the first projection for 2027, the government expert group said that Switzerland's economic growth is expected to accelerate to 1.7%.
All figures have been adjusted to take into account the impact of sporting events and are based on the assumption that international tariffs will remain at current levels.
However, risks remain high, the government stressed. “Global uncertainty regarding trade and economic policies remains at considerable levels, while the Swiss franc continues to be very strong,” official sources said.
Foreign trade is expected to provide a positive, albeit moderate, boost over the coming year, with merchandise exports projected to exceed October expectations in the coming quarters.
Meanwhile, domestic demand will remain the main engine of economic growth, according to the government.
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