SECO Warns Trump-Style US Tariffs Likely to Stay.
Switzerland’s top economic official believes that US tariffs introduced during the Trump era are likely to remain in place even beyond the current political cycle.
Helene Budliger Artieda, head of the State Secretariat for Economic Affairs (SECO), said in an interview that efforts to reindustrialise the United States enjoy broad bipartisan support and are unlikely to be reversed quickly.
Tariffs Seen as Long-Term Policy
According to Budliger Artieda, even a future Democratic president would find it difficult to abolish tariffs if they remain within the 10–20% range.
She noted that the United States depends on customs revenues as part of its broader fiscal strategy, making major policy reversals less likely.
“The tone may change, but the policy direction will remain,” she explained, adding that global trade conditions have become more complex and less predictable.
Switzerland Urged to Focus on Stability
The SECO chief advised Switzerland to concentrate on maintaining strong economic framework conditions rather than engaging in active industrial policy experiments.
She emphasized that Switzerland’s attractiveness as a business location is rooted in stability, predictability, and a liberal economic environment, which companies continue to value.
No Immediate Threat to Swiss Exports
Despite concerns over global trade tensions, Budliger Artieda stated that Swiss exports are not currently under direct threat. However, she warned that the international economic environment is becoming more challenging.
She highlighted that new trade barriers are emerging not only with the United States but also in other global markets.
Switzerland Must Adapt to Changing Global Trade
The SECO director concluded that Switzerland must become more agile in response to shifting global conditions.
She described the country’s future approach as needing to act like “fast hurdlers,” capable of quickly adapting to new economic obstacles while maintaining competitiveness in global markets.