Swiss Tariff Damage Grows as Firms Plan Job Cuts, Relocations

Switzerland’s manufacturing slump is worsening as companies consider job cuts and relocating production in response to damaging US tariffs, piling pressure on the government to get better trade terms.

More than 30% of companies are planning to shift operations to the European Union because of the levies President Donald Trump imposed on the country, trade group Swissmem said Tuesday. Many are also considering short-time work or layoffs.