Swissmem fears more protectionism under Trump
Published: Wednesday, Nov 6th 2024, 12:30
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The industry association Swissmem expects more protectionism from the US administration under the new President Donald Trump. He will change geopolitics and the global economic order, the association announced on the short message service X on Wednesday.
The USA is the second most important export market for the Swiss technology industry with a share of 14%. For small and medium-sized enterprises (SMEs) in particular, which make up 90 percent of Swissmem's members, access to the US market with as few obstacles as possible is key, the association wrote.
According to Swissmem, Switzerland played its trump cards well during Donald Trump's first term in office. Trump is open to technology. The Swiss economy should also be able to seize its opportunities and build on its strengths during his second term of office.
An active foreign and foreign trade policy is now even more important. Swissmem is therefore calling for the resumption of exploratory talks for a free trade agreement with the USA. Switzerland itself must invest more in armaments so that it does not form a "security policy vacuum" in Europe.
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