Swiss exports to the United States fell to their lowest level since 2020 in August when massive US tariffs came into effect, official data showed Thursday.
The Alpine country's exports to the United States reached 3.1 billion Swiss francs ($3.9 billion) in August, a 22.1 percent drop from July, customs figures showed.
Donald Trump imposed a 39-percent tariff on goods from Switzerland on August 1, a decision that shocked Swiss officials as the figure was higher than what the US president had previously announced.
Switzerland's watch sector was hit particularly hard by the tariffs, the customs agency said in a statement.
Overall Swiss exports fell one percent in August, with watch shipments down 8.6 percent.
Swiss officials have continued to hold talks with US counterparts in hopes of lowering the tariffs on goods from the export-dependent country.
US Commerce Secretary Howard Lutnick told CNBC last week that "we'll probably get a deal done with Switzerland".
With AFP
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