The Swiss government expects that Trump's tariffs will affect tax revenue starting next year.

Jin10 Data, October 29 – The Swiss government expects that the high tariffs from the United States will impact Switzerland's VAT revenue starting next year, as these tariffs weigh on Switzerland's economic growth. The Swiss government stated in a declaration on Wednesday: “The further impacts of U.S. tariffs on revenue are expected to last longer.” The U.S. imposes a 39% tariff on many goods exported from Switzerland to the U.S., a measure that came into effect in August. Due to the Swiss government's efforts to drop the Intrerest Rate having so far failed, it has revised its economic growth forecast for next year down from 1.2% to 0.9%. The Swiss government also indicated that this year, Switzerland's budget deficit will only be 600 million Swiss francs (equivalent to 750 million USD), which is smaller than the initially budgeted shortfall of 800 million francs. According to the statement, this change is due to a slight increase in revenue.