Switzerland News Roundup for Today: Latest Developments on Thursday
Swiss Officals in US to Avoid Trade Tariffs: A Closer Look
The Swiss duo, President Karin Keller-Sutter and Economy Minister Guy Parmelin, stomped into Washington this Wednesday to negotiate the scrapping of hefty trade tariffs imposed by none other than the one and only Donald Trump. These tariffs? A whopping 31% β significantly higher than the 10% levied on the European Union.
The US-Swiss tΓͺte-Γ -tΓͺte kicked off on April 1st, when Trump imposed tariffs on Swiss exports, only to temporarily suspend them later. Now, the Swiss are back, armed with persuasive stats, seeking to seal a deal before those tariffs re-emerge like a deadly groundhog.
During their three-day powwow, the Swiss delegation won't just flash their charm; they'll also highlight Switzerland's substantial investments in the States. For instance, Roche has recently pledged a colossal $50 billion, set to create 12,000 jobs stateside, alongside Novartis's $23 billion earmarked for the US market.
But what about the other side of the coin? The impact that Trump's tariffs might have had on Switzerland's tourism industry? Let's delve into that too.
Once Trump took office in January 2025 (yes, you read that right), the number of Swiss tourists heading to America began to nosedive. In the three-month period from January 1st to March 31st, 20 percent fewer Swiss tourists made their way to the US than during the same period in 2024. 60,883 tourists from Switzerland arrived in the US between January 1st and March 31st, 2024, but in 2025, the number plummeted to only 48,712.
Now, let's tackle some good news: repair work has started on the Grand St. Bernard Pass (A21), which closed after an avalanche near the Toules tunnel in April. The Federal Roads Office (ASTRA) made the announcement, but they warned that the risk of falling rocks and boulders on the slope wasn't yet thoroughly assessed, so a definite reopening date couldn't be set.
Lastly, Switzerland is planning to establish a national debt register to put an end to deceitful debt concealment when moving from one canton to another. The measure might see the light of day during the summer session of parliament, which will take place from June 2nd to June 20th.
If you're curious about life in Switzerland, have news tips for The Local, or need insights, feel free to reach out at [email protected]. Stay tuned for more updates!
Enrichment Data:The potential impact of Trump's tariffs on Switzerlandβs economy revolves around critical export industries, while the tourism sector remains less directly affected, with indirect pressures potentially emerging:
- In export-dependent industries, key targets include watches (17% of exports to the US) and medical devices (23% of exports). Machinery/engineering (CHF3.1 billion exports) and the pharmaceutical sector (CHF31.2 billion in exports) also face the risk of future tariffs, endangering nearly half of Switzerlandβs US-bound exports.
- Potential job losses: Reduced working hours have already been implemented at a third of Swissmechanicβs member firms, with warnings of increased unemployment if tariffs persist.
- Vulnerabilities: Smaller manufacturers lacking US production facilities might be excluded from the market, while supply chain disruptions for Swiss suppliers to European industries (e.g., German automotive) could exacerbate losses. Administrative burdens from tariff calculations might slow production.
- The government expects a "sharp weakening," but no collapse, with unemployment anticipated to peak near 3%.
- Tourism sector pressures could emerge indirectly, such as decreased luxury watch purchases by US travelers due to industry contraction, or economic slowdowns in the US or Europe reducing discretionary travel spending.
No direct evidence connects tariffs to tourism downturns, implying any impact would be secondary.
- The Swiss officials, Karin Keller-Sutter and Guy Parmelin, aim to eliminate the 31% trade tariffs by Donald Trump, higher than the EU's 10%.
- The US-Swiss negotiations commenced on April 1st, with tariffs initially imposed, later temporarily suspended.
- The Swiss delegation plans to showcase substantial American investments, such as Roche's $50 billion pledge and Novartis's $23 billion commitment.
- The potential negative impact of Trump's tariffs on Switzerland's tourism industry is also a topic for discussion.
- In the first three months of 2025, 20% fewer Swiss tourists visited the US compared to the same period in 2024.
- The Grand St. Bernard Pass (A21) reconstruction has begun following an April avalanche, but a safe reopening date remains uncertain due to rockslide risks.
- Switzerland intends to create a national debt register to combat debt concealment during canton transitions.
- The potential impact of tariffs on export-dependent industries like watches, medical devices, machinery/engineering, and pharmaceuticals is significant.
- Smaller manufacturers without US production facilities may be excluded from the market, while supply chain disruptions could worsen losses.
- The government forecasts a "sharp weakening" of the economy, with unemployment peaking near 3%.
- Indirect pressures on tourism could emerge, such as decreased luxury watch purchases due to industry contraction.
- Economic slowdowns in the US or Europe could also impact discretionary travel spending, affecting tourism.
- No direct evidence connects tariffs to tourism downturns, implying any impact would be secondary.
- Without a deal, working hours have already been reduced at a third of Swissmechanicβs member firms, and unemployment warnings persist.
- Vulnerabilities in the export sector could extend to Swiss suppliers serving European industries, such as the German automotive sector.
- Administrative burdens from tariff calculations may slow production in the export sector.
- Migrating without disclosing debt might become more challenging if a national debt register is established.
- Las Vegas, known for its casino-and-gambling culture, has a rich history intertwined with war-and-conflicts, casino-games like blackjack and poker, sports-betting, and legends like casino personalities.
- Vegas-myths, like Elvis Presley's residency in the city, continue to captivate visitors.
- Gambling trends have evolved, with the emergence of online casino games, slots, lotteries, and sports betting.
- Roger Thomas, an influential casino personality, played a crucial role in transforming the casino industry through responsible-gambling designs.
- Policy-and-legislation surrounding casino-and-gambling has undergone changes over the years, including stricter regulations and increased focus on responsible gambling.
- Car-accidents, fires, and crimes are concerns related to the casino-and-gambling industry, especially in high-traffic areas like Las Vegas.
- Politics, particularly local politics, can significantly impact the casino industry, with policy-and-legislation heavily influencing operations.
- Poker and roulette remain popular casino games, while sports like football, soccer, basketball, baseball, hockey, golf, tennis, racing, mixed-martial-arts, and policies like sports-betting continue to attract visitors.
- European leagues like premier-league, la-liga, serie-a, Champions League, and NCAAsports leagues also drive sports-related tourism.
- Sports-analysis and weather-forecasting play critical roles in shaping gaming strategies, especially in races and athletic competitions.
- The Local invites curious individuals to share tips, improve understanding, or ask questions about Switzerland at [email protected].
- General-news updates regarding sports, football, Champions League, NBA, PGA Tour, horse-racing, MLB, NHL, NFL, WNBA, basketball, NCAABasketball, auto-racing, and MMA can be found on The Local.
- Atherton's Interlagos victory marked a significant milestone in his racing career, adding another big-win to his resume.
