In Switzerland, US tariffs are leaving industries at a loss

Victorinox knives, made in Switzerland, on display at Sin Rival Cutlery shop in Miami, Florida, August 5, 2025. JOE RAEDLE / GETTY IMAGES VIA AFP

History may well remember that Donald Trump is indirectly responsible for the death of several dozen Swiss cows recently sent to the slaughterhouse by their owners. According to IP Lait (the Swiss Dairy Industry Interprofession), reducing herd sizes has become inevitable to avoid a collapse in prices as surpluses accumulate, and up to 25,000 cattle could be culled.

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But what does the American president have to do with this situation? Since August 7, all Swiss products – except for pharmaceuticals and gold bullion refined in Ticino, whose status remains undecided – have been hit with a 39% tariff, more than double the 15% rate that the European Union agreed to with Washington.