Doha: Switzerland's exports to the United States fell sharply in August, according to data released today by the Federal Customs Office, after the White House imposed 39% tariffs on Swiss products.

According to Qatar News Agency, Swiss customs reported that exports to the US dropped 22.1% in August compared to July, falling to 3.08 billion Swiss francs (3.3 billion Euros). The decline was driven in particular by the watchmaking industry, which has been among the hardest-hit sectors under the new US tariffs.

The statement noted that Swiss exports to the United States fell to their lowest level since the end of 2020.

The chemical and pharmaceutical sectors also contributed to the downturn, even though pharmaceutical products remain exempt from the tariffs.

Overall, Swiss exports slipped 1% in August to 22 billion francs, with shipments to Asia down 0.6% and exports to the European Union rising 2.1%.

Imports inched up 0.4% to 18.1 billion francs, narrowing the trade deficit to about 3.9 billion francs, compared with roughly 4.2 billion francs in July.