Already overtaxed in the USA, Swiss medtech fears a major blow
Keystone-SDA
Suppliers of medical devices in Switzerland are watching closely the prospect of new customs duties in the United States, applicable to all non-US production.
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The US Department of Commerce is conducting an investigation until October 17 into the importation of a range of devices under Section 232 of the Trade Expansion Act of 1962. The section authorises the government to impose restrictions on imports of goods likely to affect national security.
“We already have a clear competitive disadvantage in Switzerland vis-à-vis our foreign competitors,” Anita Holler, a member of the board of the Swiss Medtech umbrella organisation, told AWP news agency on the sidelines of an annual conference on regulatory issues.
Deprived since 2021 of the mutual recognition agreement that gave them unhindered access to the European market, Swiss players in the sector have also had to contend since the beginning of August with punitive customs duties of 39% on Swiss products at the US border. This is compared with 15% for their EU-based competitors.
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“Any additional taxes, which other countries benefiting from agreements would escape, would have serious consequences for Switzerland as a business location,” insisted the representative.
According to the latest Swiss Medtech survey for 2023, the European Union was by far the most important market for Swiss medtech exports, with a share of 50% and a value of CH 6.2 billion ($7.75 billion). With CHF2.8 billion, the US came second, accounting for 23% of the total. At that time, Switzerland imported CHF3.5 billion worth of European devices and CHF1.8 billion worth of manufactured goods from the US.
Translated from French by DeepL/jdp
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