Switzerland’s exports to the United States surged in September as pharmaceutical companies accelerated shipments to beat Washington’s impending tariff hike.
Data released on Tuesday by the Swiss Federal Customs Administration show that total Swiss exports to the U.S. soared by nearly 43% in seasonally adjusted terms compared to August, a sharp rebound after a slump triggered by earlier U.S. trade measures. Overall, Swiss exports rose by 3.4% in September, buoyed largely by the chemical and pharmaceutical sector.
The export boom followed President Donald Trump’s decision in August to impose a 39% tariff on a wide range of Swiss goods, excluding pharmaceuticals at the time.
However, in late September, Trump announced a steeper 100% tariff on branded and patented pharmaceutical imports starting October 1, unless the companies established or expanded production within the U.S.
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In anticipation of the new duties, Swiss drugmakers, including global giants Roche and Novartis, reportedly ramped up shipments to the American market throughout September. Both firms have previously stated they do not expect the harsher tariffs to affect them directly, citing ongoing U.S. investment and expansion projects.
Seasonally adjusted data showed that exports of chemical and pharmaceutical products, which make up more than half of all Swiss exports, rose by 5.1% in nominal terms compared with August.
Trade analysts say the export spike underscores Switzerland’s growing reliance on the U.S. as a key market, while also highlighting how pharmaceutical exports continue to cushion the country’s economy against global trade volatility.
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“Pharma remains Switzerland’s export backbone. These numbers reflect how sensitive the sector is to U.S. policy changes,” said Zurich-based trade economist Kurt Brunner.
With the October tariff deadline now in effect, analysts expect a temporary slowdown in the coming months as companies adjust to new cost structures and reassess their U.S. market strategies.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
