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Geneva will be hard hit by tariffs

Friday, 4 April 2025 06:30

Geneva is likely to be one of the worst hit cantons following the new US tariffs.

The United States is its second largest export market – mainly watches and jewellery – which makes up 87% of its trade to the US or 6% of its GDP. 

The head of the Geneva Chamber of Commerce, Vincent Subilia, says the tariffs are a ‘declaration of economic war and a ‘hammer blow’ to the canton. 

The Watches and Wonders watch trade show is currently underway in Geneva.

The head of the Swiss Watchmaking Federation, Yves Bugmann, is shocked and demands the Confederation to explain the situation to the US and that there are no tariffs on US imports. 

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