EU Confronts Trump Tariffs, Swiss Franc Plays Key Role
March 11, 2025EU Faces New Round of U.S. Tariffs
The European Union is preparing for its first wave of U.S. tariffs on Wednesday, with a 25% duty imposed on aluminium and steel imports—measures that will affect EU metal exports more significantly than those from 2018. Previously, tariffs imposed by the Trump administration in 2018 impacted EU metal shipments valued at €6.4 billion; however, the new tariffs not only reapply those measures but also increase the aluminium duty from 10% to 25%, expanding their reach to derivative products such as steel machinery parts and aluminium-rich items ranging from car bumpers to tennis rackets.
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SNB Posts Record Profit of Nearly $90 Billion in 2024
March 03, 2025Historic Profit Surge Driven by Booming Markets
The Swiss National Bank (SNB) reported an unprecedented annual profit of 80.7 billion Swiss francs (approximately $89.50 billion) in 2024, smashing its previous record of 54 billion francs set in 2017. This extraordinary turnaround follows a loss of 3.2 billion francs in 2023 and slightly exceeds earlier estimates of around 80 billion francs for the full-year result. The impressive profit was fueled by thriving equity markets, soaring gold prices, and a stronger U.S. dollar, which together boosted the SNB’s performance.
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Swiss Immigration Plummets 15% in 2024: A Dramatic Shift
February 20, 2025Significant Drop in New Immigrants
FEB 20 - In 2024, immigration to Switzerland fell sharply by 15.6%, with only 83,392 new arrivals recorded compared to the previous year. This steep decline comes as the total number of individuals joining the permanent foreign resident population dropped by 6%—a decrease of 10,946 people—indicating a substantial shift in migration trends.
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Swiss Exports Plunge as Chemical Sector Derails Trade
February 20, 2025Sharp Decline in Swiss Exports
FEB 20 - At the start of 2025, Swiss exports fell dramatically, with total shipments amounting to CHF22.7 billion ($25.1 billion) in January. Compared to December 2024, exports dropped by 6.9% seasonally and 3.9% in real terms, reversing the strong performance seen at the end of last year.
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SNB Generation Change Keeps Policy Steady, Says Board Member
February 15, 2025Generational Change, Same Policy Commitment
FEB 15 - In a recent interview with Neue Zuercher Zeitung, governing board member Petra Tschudin emphasized that the generational shift at the top of the Swiss National Bank (SNB) does not alter its unwavering commitment to maintaining low inflation. Despite the recent leadership change—Thomas Jordan stepped down last September after a 12-year tenure as chairman and was succeeded by Martin Schlegel—the core tasks, instruments, and processes remain unchanged.
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