According to a survey conducted by Economiesuisse, Swiss companies are worried that U.S. tariffs could impact demand in the U.S., trigger an economic downturn, and put them at a competitive disadvantage compared to their competitors. The poll, which included 94 Swiss industry groups and companies on April 3-4, revealed that 49% felt a significant impact from U.S. tariffs on Swiss exports. Another 27% expected little negative effect, while nearly a quarter reported no negative impact at all.

Switzerland faced a higher tariff rate of 31% compared to the 20% for the European Union and 10% for Britain when the Trump administration announced the tariffs. Economiesuisse criticized the U.S. tariffs on Swiss imports as unjust and damaging. While most surveyed firms have not yet taken action to deal with the impact, they are exploring options such as redirecting business through countries with lower tariffs, passing costs to U.S. importers, and expanding into other markets to mitigate the effects of the tariffs in the long run.