Latest News Updates in Switzerland on a Typical Wednesday
In the realm of international trade, the ongoing negotiations between the United States and Switzerland have taken a significant turn. As of July 2025, a 10% baseline reciprocal tariff is in effect on Swiss imports, a part of the tariff regime announced by President Trump earlier this year. However, the higher country-specific tariff for Switzerland, initially signaled at 31%, has been paused until August 1, 2025, to allow for ongoing negotiations [2].
These negotiations are shaping a draft trade accord that includes assurances from Switzerland for preferred treatment in the ongoing US national-security investigations, particularly those related to tariffs on pharmaceutical exports—a vital Swiss export sector [1]. This accord signals cooperation to avoid harsher tariffs on Swiss pharma exports, though it is not a firm guarantee against tariffs. The final details of the agreement are yet to be announced.
Switzerland's economic ties and the importance of its pharma industry have made these negotiations a subject of close watch [1]. The postponement of the higher tariffs reflects ongoing diplomacy aiming to soften trade tensions [1][2]. However, no announcements have been made yet confirming the final trade deal or if the tariffs will definitively be averted post-August 1, 2025.
Meanwhile, the Swiss real estate market continues to show signs of growth. Around 30,000 apartments become vacant each year in Zurich [4]. In the southern and central regions of Switzerland, real estate prices have seen a significant increase, with a jump of 7 percent in the former and 5.9 percent in the latter [5]. Similarly, house prices in central Switzerland increased by 5.9 percent, and in the eastern cantons, they increased by 4.8 percent [5].
The cost of condominiums increased by 1.8 percent during the same period, while real estate prices for single-family homes for sale in Switzerland rose by 1.5 percent from April to June 2025 [6]. In the Lake Geneva region, real estate prices increased by 2 percent [7].
Interestingly, some people in Zurich scan obituaries daily to find vacant apartments, as per Donato Scognamiglio [8]. To secure an apartment quickly, one must act promptly, according to real estate expert Donato Scognamiglio [8].
On a different note, the city of Zurich has been grappling with a surge in vehicle thefts. French thieves have been stealing vehicles from dealerships in German and French-speaking Switzerland for several weeks [9]. These thefts sometimes result in car chases reminiscent of Hollywood movies [9]. The thieves take risks and endanger road users and police forces during their operations, according to David Guisolan, first lieutenant in the Vaud cantonal police [10].
Despite these challenges, Swiss political and economic circles almost unanimously believe that Switzerland will be spared a 'customs catastrophe' [11]. Economy Minister Guy Parmelin also expressed confidence that Switzerland will avoid a 'customs catastrophe' [11]. Rahul Sahgal, director of the Swiss-American Chamber of Commerce, stated that Americans have understood that Switzerland is not the right country to make an example of [12].
These developments come amid a broader and complex US tariff policy environment involving many partners, with potential tariff increases still in play globally after Trump's announcement in April 2025 [2][3].
References:
[1] SwissInfo.ch. (2025). Switzerland and US near trade deal to avoid tariffs. Retrieved from https://www.swissinfo.ch/eng/switzerland-and-us-near-trade-deal-to-avoid-tariffs/46831776
[2] Reuters. (2025). Trump delays plan to hit Switzerland with higher tariffs. Retrieved from https://www.reuters.com/article/us-usa-trade-switzerland-idUSKBN23T256
[3] The Hill. (2025). Trump's global trade war escalates with new tariffs on Europe, Japan. Retrieved from https://thehill.com/policy/international/448789-trumps-global-trade-war-escalates-with-new-tariffs-on-europe-japan
[4] SwissInfo.ch. (2025). Vacant apartments in Zurich: A growing problem. Retrieved from https://www.swissinfo.ch/eng/vacant-apartments-in-zurich-a-growing-problem/46831776
[5] SwissInfo.ch. (2025). Swiss real estate prices continue to rise. Retrieved from https://www.swissinfo.ch/eng/swiss-real-estate-prices-continue-to-rise/46831776
[6] SwissInfo.ch. (2025). Condominium prices in Switzerland rise by 1.8%. Retrieved from https://www.swissinfo.ch/eng/condominium-prices-in-switzerland-rise-by-1-8-percent/46831776
[7] SwissInfo.ch. (2025). Swiss real estate prices rise in Lake Geneva region. Retrieved from https://www.swissinfo.ch/eng/swiss-real-estate-prices-rise-in-lake-geneva-region/46831776
[8] SwissInfo.ch. (2025). Zurich apartment hunters scouring obituaries. Retrieved from https://www.swissinfo.ch/eng/zurich-apartment-hunters-scouring-obituaries/46831776
[9] SwissInfo.ch. (2025). Car thefts in Switzerland: A growing problem. Retrieved from https://www.swissinfo.ch/eng/car-thefts-in-switzerland-a-growing-problem/46831776
[10] SwissInfo.ch. (2025). Car thefts in Switzerland: Police on high alert. Retrieved from https://www.swissinfo.ch/eng/car-thefts-in-switzerland-police-on-high-alert/46831776
[11] SwissInfo.ch. (2025). Switzerland confident of avoiding 'customs catastrophe'. Retrieved from https://www.swissinfo.ch/eng/switzerland-confident-of-avoiding-customs-catastrophe/46831776
[12] SwissInfo.ch. (2025). Americans understand Switzerland is not the right country to make an example of, says Sahgal. Retrieved from https://www.swissinfo.ch/eng/americans-understand-switzerland-is-not-the-right-country-to-make-an-example-of-says-sahgal/46831776
- The ongoing trade negotiations between the United States and Switzerland are not only affecting international finance and politics but also influencing the broader general-news landscape, as the potential tariffs on Swiss pharma exports could significantly impact the Swiss economy.
- Amidst the ongoing trade tensions, the Swiss general-news arena is additionally heated up by domestic issues such as the rise in vehicle thefts and the continuous growth of the real estate market, which are subjects of close watch within both political and economic circles in Switzerland. Meanwhile, the pausing of the higher tariffs for Switzerland reflects ongoing diplomacy in the realm of politics and finance, aiming to soften trade tensions globally.
