Swiss exports to the US fell sharply in May for the second month in a row.
Data released by the Swiss Federal Customs Administration on Thursday showed that shipments to the United States fell 41.7 per cent in May from the previous month after a 42.5 per cent drop in April.
Imports from the States rose 6.5 per cent last month after falling 12.6 per cent a month earlier. April’s data was revised down, with exports previously reported down 36.1 per cent and imports down 15.4 per cent.
Companies are waiting for countries to conclude a trade agreement and clarify the situation with duties. As part of the comprehensive protectionist measures announced on 2 April, Washington imposed tariffs of 31% on goods from Switzerland. Later, US President Donald Trump said he had decided to suspend “reciprocal” customs tariffs for 90 days against countries that had requested dialogue on the issue.
US-Swiss trade talks are still ongoing. Previously, representatives of the parties had expressed hope that they would be able to reach an agreement before the beginning of July.
Total Swiss exports in May fell by 13.6% to 21 billion francs ($25.6 billion), while imports increased by 0.8% to 19 billion francs.
The country’s trade surplus last month fell to 2bn francs from 5.4bn francs in April and reached its lowest level since December 2023.