Swiss exports to US were growing before stinging tariffs

Swiss exports to the United States inched up in July, the second straight month of expansion before President Donald Trump unexpectedly slapped a 39% tariff on the country. +Get the most important news from Switzerland in your inbox Foreign sales to the US, adjusted for seasonal swings, rose 1.1% from June, the Swiss Office for Customs and Border Security said Thursday — bucking the 2.7% decline in overall exports. + How should Switzerland respond to the US tariffs? Imports from the world’s biggest economy sank by 7.9%, part of a wider pullback across regions. That resulted in a trade surplus with the US of CHF3 billion ($3.7 billion), a touch higher than June’s CHF2.9 billion and near the average level over the last two years. The data show the last month of trade before the highest US tariff among developed nations began, a burden that will “effectively annihilate” cross-border commerce in some areas, according to business lobby Swissmem. The group represents machine and ...