Economiesuisse Chief Economist: We do not expect an escalation of tariffs
Published: Wednesday, Dec 4th 2024, 13:30
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Economiesuisse expects only modest growth of 1.4 percent in the Swiss economy next year. However, in view of the rough global markets and the major uncertainties, this is not so bad, says chief economist Rudolf Minsch in an interview with AWP Video.
"If everything runs smoothly and politics calms down to some extent, Switzerland should return to its potential growth of 1.5 to 1.6 percent by 2026," says Minsch. Companies are ready to deliver and process orders.
Meanwhile, tariff increases by the new US President Donald Trump could have a negative impact on the Swiss export industry. "Tariffs are always bad for business," says Minsch. However, the chief economist does not expect a broad "tariff escalation", but only selective tariffs.
The fact that Germany, an important trading partner, is weakening at the same time is being felt in particular by the mechanical engineering and chemical industries. "The negative effects will continue in these sectors in 2025."
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