Swiss central bank revises economic growth amid U.S. tariffs challenge

The Swiss National Bank said on Thursday that tariffs about the goods about the goods on the United States offered a “great challenge” for exporters in a way that will hit the economy.

The country swallowed some of the highest tasks of President Donald Trump, which was implemented in a 39% tariff ratio in August. The country’s President Karin Keller-Sutter could not achieve a trade agreement after a Swiss delegation led by Trump at Washington DC at Washington DC

“US tariffs offer great difficulty for the affected companies and are likely to reduce economic activities,” the Central Bank’s latest interest rate decision. He said.

“Our monetary policy against this fund also supports economic development.”

On Thursday, the SNB kept interest rates at 0% in a commonly expected move.

Schlegel told CNBC that tariffs are expected to hit the exporters, but the effect on the economy should be silent more.

“Directly affected exporters, this is very difficult, very difficult for them, but if you look at the economy as a whole, the effect is limited.” He said: “We do not see a stagnation in the next quarter, so we have an increase of 1% to 1.5% for 2025, we still see a growth of about 1% in 2026, so we do not see stagnation.”

Petra Schudin, a member of the Board of Directors at the Central Bank, said that at a press conference, the economic appearance for Switzerland is likely to hit exports and investments, which is likely to determine significantly due to highly higher US tariffs “.

According to Schudin, machinery and clock construction industries will be most affected by taxes.

“As a result of tariffs and high levels of uncertainty, we expect to grow slightly below 1% for 2026.”

It points to a decrease in a 1-1.5% growth expectation for the next year, the central bank’s June policy meeting.