Switzerland: 31% Rate — One of Europe’s Highest
Switzerland received a 31% IEEPA reciprocal tariff rate effective April 5, 2025. Switzerland is notably not an EU member, so it received its own individual rate rather than the EU’s 20% rate — and at 31%, it was assigned one of the highest rates of any European economy.
Switzerland’s export profile to the United States is dominated by high-value goods: pharmaceuticals, medical devices, precision instruments, watches, and specialty chemicals. The 31% rate on these categories represented a substantial new duty burden for importers.
Switzerland’s Key Export Categories to the U.S.
Switzerland is a small economy with an extraordinarily high-value export mix:
- Pharmaceuticals: Switzerland is home to Roche, Novartis, Lonza, and other global pharmaceutical giants. Pharmaceutical imports from Switzerland are a major U.S. import category.
- Medical devices: Swiss medical technology companies produce precision surgical instruments and diagnostics
- Watches and timepieces: Swiss luxury and precision watches
- Precision instruments: Measurement, testing, and analytical instruments
- Specialty chemicals: Fine chemicals and flavor/fragrance ingredients (Firmenich, Givaudan, Clariant)
- Chocolate and confectionery: Swiss-origin premium chocolate
Key Product Categories
Pharmaceuticals (Chapter 30): This is Switzerland’s largest export to the United States by value. Swiss pharmaceutical companies export finished dosage forms, biologics, and specialty medicines. The 31% IEEPA rate on pharmaceutical imports from Switzerland was a major cost shock to U.S. pharmaceutical distributors and wholesalers.
Medical Devices (Chapter 90): Surgical instruments, diagnostic equipment, and medical technology produced by Swiss manufacturers.
Watches (Chapter 91): Swiss luxury watches — from prestige brands to precision mechanical timepieces — bore the full 31% rate.
Flavor and Fragrance Ingredients (Chapter 33): Swiss companies (Givaudan, Firmenich, now merged as dsm-firmenich) are global leaders in flavor and fragrance. Specialty ingredients imported by U.S. food and consumer products companies.
No FTA with the United States
The United States does not have a free trade agreement with Switzerland. Swiss-origin goods with IEEPA duties assessed between April 5, 2025 and February 20, 2026 are potentially eligible for CAPE refund. No FTA exemption categories apply.
Estimating Your Switzerland Refund
For a pharmaceutical importer that brought in $10,000,000 in Swiss pharmaceutical goods during the IEEPA window:
- Estimated duty refund: $3,100,000 (31% × $10,000,000)
- Estimated interest (~5%): $155,000
- Estimated total: $3,255,000
Use the calculator above to estimate based on your actual import value.