Switzerland Seeks Way Out of U.S. Tariffs

The Swiss government, together with a business delegation, is seeking ways to ease the pressure from U.S. import tariffs of 39%—the highest rate imposed by the U.S. on any developed nation. The policy has begun to erode the competitiveness of Swiss exports, long dominated by signature products such as watches, machinery, chocolate, and aircraft. In meetings with U.S. officials in Washington this week, one unusual option emerged: importing Boeing aircraft through Switzerland for use by Swiss International Air Lines (SWISS), part of the Lufthansa Group.

Aircraft Import Option on the Negotiating Table

SWISS CEO Jens Fehlinger revealed that the discussion was merely an exploration of ideas, not yet a concrete plan. He explained that the proposal surfaced as a possible way to reduce Switzerland’s trade surplus with the U.S., which reached over USD 38 billion in 2024. He stressed that any major move would still require official approval from the Swiss government.

Officials familiar with the talks said the idea was to increase Switzerland’s import volume from the U.S., sending a positive signal amid trade tensions. Boeing emerged as a candidate because aircraft purchases, given their high value, could help rebalance the trade ledger between the two countries.

Background on the 39% Tariff and Its Impact

The 39% tariff was introduced by the U.S. after determining that Switzerland’s trade surplus was excessively large. The impact was immediate in high-value export sectors. Swiss aircraft manufacturer Pilatus even halted deliveries of its PC-12 and PC-24 business jets to the U.S. market, citing a sharp loss of price competitiveness. The company is now considering opening production in Florida to maintain market access and protect jobs.

Beyond aviation, luxury watchmakers and precision machinery producers are also seeing a decline in orders. This pressure prompted the Swiss Federal Council to hold an emergency meeting to devise strategic measures, including high-level diplomatic efforts that have so far failed to secure a reduction of the tariff to 10%.

A Complex Trade Diplomacy

The Washington meeting was part of a series of intensive negotiations pursued by Switzerland. While U.S. President Donald Trump did not meet directly with the Swiss delegation on this trip, ministerial and industry-level discussions continued. Both sides agreed to keep the dialogue going, with a focus on finding solutions that are not only economically beneficial but also avoid further political friction.

An aircraft import deal with Boeing is seen as a double-edged sword. On one hand, it could improve the U.S.’s perception of Switzerland in trade relations. On the other, committing to a large-scale aircraft purchase would require significant financial and strategic commitments from both SWISS and the Swiss government.