The Swiss economy will stagnate this year and next, say economists at UBS, who blame US President Donald Trump. +Get the most important news from Switzerland in your inbox The US president has brought about a turning point in global trade with the introduction of far-reaching tariffs, according to a study published on Tuesday. This will lead to a significant slowdown in the global economy. Nevertheless, there are no signs of a global recession, according to the experts at the bank. After all, in their opinion, Trump's tariffs are unlikely to be as high as announced on "Liberation Day". + Switzerland and US agree to accelerate tariff talks Nevertheless, growth in Switzerland is expected to be just 1% in 2025 and 1.2% in 2026 (adjusted for sporting events). These figures are well below the long-term trend. As a result, the unemployment rate will also rise to over 3%. According to a UBS survey, Trump's tariffs are also causing red heads among 800 Swiss companies with foreign trade links.
