Business News February 2026 \ Issue #426
An integral part of the Swiss–U.S. understanding is Switzerland’s commitment to encourage and facilitate at least USD 200 billion in investment by Swiss companies in the US over the next five years. According to the Fact Sheet, one third of this amount is expected by the end of 2026. It is therefore essential that companies keep us in the loop. We will be reaching out to you periodically. Equally important is showcasing the value-add of Swiss investments in the US – through groundbreaking ceremonies, plant expansions, and inaugurations involving state and local authorities as well as the Swiss Embassy. In many regions, Swiss firms are not merely market participants; they are anchors of local industrial ecosystems. And that story needs to be told. As per the Joint Statement, the U.S. has agreed to modify the tariff rates with the understanding and expectation that an Agreement will be successfully negotiated by the first quarter of 2026. If the Agreement is not successfully negotiated by March 31, 2026, the U.S. will review and reconsider these modifications, as appropriate. Based on this, the Swiss Government has begun negotiations this week. Negotiating effectively, efficiently and in good faith will be critical to achieving a positive outcome. The scope of the negotiations is defined by the Joint Statement. On the Swiss side, the Agreement will ultimately have to withstand parliamentary scrutiny, which is why the outcome should ideally fall within the mandate granted to the Swiss Federal Council by Parliament in December of last year. Closing Thoughts Tariffs are likely here to stay, at least in the near term. That said, the U.S. Government has shown a willingness to adapt import duties for products it does not produce domestically in sufficient quantities, such as certain metals or coffee. In the short term, our role will be to support the negotiations and to advocate for additional exceptions in areas of mutual strategic relevance. Beyond that, it is crucial to move the current debate away from a single metric: the trade balance in goods. While easy to communicate, this metric offers an increasingly incomplete picture. A narrow focus on trade flows risks obscuring what truly drives growth, innovation, and competitiveness. The economic partnership between Switzerland and the United States illustrates this particularly well. Viewed through a broader lens, the true value of the relationship lies not only in exports and imports, but in long-term investment, high- quality jobs, and especially shared innovation – on both sides of the Atlantic. I wish you a very good start to the year. My very best, Rahul
GREETINGS FROM THE CEO
Neues Jahr, neues Glück? Maybe not so much.. Looking towards the other side of the Atlantic, the New Year started out with the same intensity as the old year ended. Venezuela, Greenland, ICE, the Davos speech. The latter underlined for me President Trump’s profound desire to have a relationship with Europe – not least because, in his view, Europe “owes” the U.S., but also because he feels a cultural proximity. As I write this, I am fully aware that many of you may not agree with this interpretation. I would even go a step further: a strong Europe is essential for the United States if it wants to balance its relationship with China. The midterm elections on November 3 will be watched closely. Historically, the president’s party tends to lose seats in Congress during the midterms and often loses control of at least one chamber. I expect Trump to be highly focused on preventing such an outcome, for several reasons. First , he can deploy all his political and financial capital and energy into these midterms, as he is not running for re-election. Second , losing a chamber would reopen the door to impeachment efforts – which are unlikely to result in a removal, but would consume enormous political oxygen. Third , a divided Congress would make ambitious legislative projects extremely difficult, if not impossible, to complete. Swiss–U.S. Trade Relations Pro memoria: With the entry into force of the new U.S. customs regulations retroactively as of November 14, 2025, applicable U.S. tariffs on Swiss goods have been reduced to an across-the-board tariff ceiling of 15% on imports from Switzerland, replacing the previous additional tariff of 39%. This leaves Switzerland with a trade-weighted tariff rate of 6.7% – one of the lowest in the world. Notwithstanding this improvement, the effective tariff rate for an individual company may still be considerably higher, or lower, depending on the product. Switzerland has also followed through on its commitments and has removed tariffs on fish, seafood, and certain agricultural product, and has established duty-free bilateral quotas for the United States: 500 t of beef, 1,000 t of bison meat, and 1,500 t of poultry meat per year (and no – chlorinated chicken will still not be permitted in Switzerland for the time being; nor, incidentally, Cybertrucks).
Past Events
December 17, Zurich, Fireside Chat with General Curtis M. Scaparrotti, Former Commander of the U.S. European Command & NATO’s Supreme Allied Commander Europe (SACEUR), and Georg Häsler Journalist - Security and Defense Policy at Neue Zürcher Zeitung (NZZ) & Colonel in the Swiss Armed Forces
Georg Häsler (NZZ Neue Zürcher Zeitung); General Curtis Scaparrotti; Thomas Schmidheiny (Spectrum Value Management)
Clara-Ann Gordon (Niederer Kraft Frey); Marlene Uetz (I.J. Martin & Co Ltd Executive Coaches for Global Business Leaders)
Christian Keller (IBM Switzerland); Peter Weibel
Linda Walker von Graffenried (Walker von Graffenried Asset Management); Stefan Iten (iten Real Estate Family Office)
Jan Widmer (Amazon Web Services); Marco Feusi (HIAG Immobilien)
Lutz Hegemann (Novartis International); Simon Bolliger (CP Pumpen)
January 29, Zurich, Fireside Chat with Markus Herrmann, Co-Founder & Managing Director, China Macro Group
Hubert Stadler (Ernst & Young); Lutz Hegemann (Novartis International)
Frauke Feess (European Alliance Partners Company (Eurapco)); Xueting Guo (Deloitte)
Marlene Uetz (I.J. Martin & Co Ltd Executive Coaches for Global Business Leaders); Pascal Streiff (Swissmem); Markus Herrmann (China Macro Group); Bogdana Marinova (Loyal VC)
February 5, Zurich, CEO Circle Dinner with PwC
Oliver Hofmann (Vebego); Susanne Seitz (Siemens Schweiz); Beat Hauenstein (Oettinger Davidoff)
Eelco Spoelder (Autoneum); Rahul Sahgal (Swiss AmCham)
Matthias Koelliker (EMS-CHEMIE); Stefan Sarbach (Zühlke Engineering); Matthias Halusa
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Swiss American Friendship Cocktail 2026
On January 22, the Swiss-American Chamber of Commerce in collaboration with the Swiss- American Parliamentary Association, the American Swiss Foundation, and Accenture, hosted the annual Swiss-American Friendship Cocktail at WEF in Davos. Key highlights included speeches by State Secretary Alexandre Fasel, US Ambassador to the Swiss Confederation and the Principality of Liechtenstein Callista Gingrich, Swiss Ambassador to the US Ralf Heckner and Chairman of the Swiss-American Chamber of Commerce Andreas Berger. More photos here
U.S. Ambassador to the Swiss Confederation and the Principality of Liechtenstein Callista Gingrich
Clara-Ann Gordon (Niederer Kraft Frey); Piergiorgio Pradelli (EFG International); Enna Pariset (BNP Paribas)
André Kudelski (Kudelski); Françoise Kudelski
Chris Keller (Amazon Web Services); Bettina Schaller Bossert (The Adecco Group)
Swiss Ambassador to the U.S. Ralf Heckner; Rahul Sahgal, CEO Swiss AmCham; Alexandre Fasel (State Secretary Federal Department of Foreign Affairs); Gabriela Lippe-Holst (Acqupart Holding); Damien Cottier (National Councilor - President Parliamentary Association Switzerland); U.S. Ambassador to the Swiss Confederation and the Principality of Liechtenstein Callista Gingrich; Andreas Berger (Chairman Swiss AmCham / SwissRe); Marco Huwiler (Accenture (Switzerland)) WORLD ECONOMIC FORUM DAVOS 2026
Dominique Wohnlich; Marco Bizzozero (iCapital), Martin Schlegel (Swiss National Bank)
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ETH Industry Relations ETH Exploration Lab
Insights from ETH Zurich: Guest Contribution
Accelerate Your Innovation with ETH Zurich Collaborating with ETH Zurich gives companies direct access to world-class research, cutting- edge technologies, and top engineering talent. Swiss industry leaders such as Accelleron are already benefiting: In the Innosuisse project ASSY 5.1, Accelleron, ETH Zurich, and inspire AG are jointly developing smart vision systems to support workers during complex manual assembly. By combining AI, computer vision, and operator- centric design, the project reduces errors, boosts efficiency, and keeps Swiss manufacturing competitive—while ensuring that humans remain at the centre of advanced production. Innosuisse, the Swiss Innovation Agency, makes such collaborations even more attractive. Through its funding instruments—ranging from preliminary studies to full innovation projects—Innosuisse covers a large share of the research costs, enabling SMEs and large companies alike to advance innovation and accelerate time to market. Partnering with ETH Zurich through an Innosuisse project allows you to: Address real industrial challenges with state- of-the-art academic expertise Develop and test new technologies with reduced financial risk Strengthen your competitiveness with solutions tailored to your needs Build long-term partnerships within Switzerland’s leading innovation ecosystem If you want to explore funding options, navigate the application process, or find the right research partners at ETH Zurich, ETH Industry Relations is here to support you.
Presentation of the Innosuisse project ASSY 5.1 at the Open-i event
Implementation of smart assembly technology at Accelleron
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Insights from ETH Zurich: Guest Contribution
ETH Exploration Lab – Where Industry Meets Curiosity-Driven Innovation The ETH Exploration Lab turns early-stage ideas into validated opportunities at speed. Driven by student curiosity and guided by ETH innovation engineers, the program enables structured exploration at the intersection of industry and academia—allowing companies to test assumptions early, learn quickly, and de-risk ideas before committing to scale or major investment. During a six-month collaboration, interdisciplinary student teams work closely with partner companies. Applying principles of lean de-risking, teams follow the Innovation Cascade to move from idea to MVP through rapid exploration, low- fidelity prototyping, and evidence-based decision gates – testing early, testing cheap, and reducing uncertainty step by step.
Partner companies benefit from: Fresh, unbiased perspectives on innovation challenges Early validation of ideas through lean, low-risk experimentation Direct access to ETH Zurich’s ecosystem, labs, and academic expertise A unique channel to engage with and recruit top ETH talent A constructive challenge to established practices, fostering an agile and exploratory mindset Leading companies—including Bühler, Bossard, V-ZUG, VAT, Siemens, and the Audi F1 Team—use the Exploration Lab to reduce uncertainty and accelerate knowledge transfer. The ETH Exploration Lab offers a powerful bridge between corporate R&D and academic excellence for those seeking new opportunities, bold experimentation, informed decision-making, and sustainable innovation pipelines.
ETH students working at the Exploration Lab
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Member Section
New Members CH
Exclusive Swiss AmCham Offer – Hotel Rotary Geneva Swiss AmCham members benefit from 15% off the Best Available Rate. The offer includes: Daily buffet breakfast Complimentary access to the fitness facilities and sauna Free Wi-Fi Public transportation card for the duration of the stay Booking instructions: Reservations must be made directly with the hotel Members should mention they are part of the “Swiss AmCham” at the time of reservation Bookings can be made via email at H1322-RE@accor.com This offer is valid year-round, subject to availability and blackout dates. 15th Swiss Customs Law Conference – Bern, May 19, 2026 (PwC Event) The Customs Law Conference provides updates on current developments and practical solutions to key issues in customs and international trade law, both in Switzerland and globally. Connect with experienced professionals and peers, and gain valuable insights from real-world practice. Swiss AmCham members benefit from a special rate of CHF 650.00. More information and registration (German only) at: www.pwc.ch/zollrechtstagung
3i Group PLC Berta Kommunikationsplan Exentis Group Kroll Consulting Maius Shizen The Network State Company wonderful AI Gatespeed / Spring Valley Capital City National Bank Schneider Freight USA New Members USA
If your company is interested in sharing an offer with our members, reach out to Amanda Bucher-Johansson at amanda.johansson@amcham.ch to explore the available opportunities. Want your company to be featured here?
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Event Calendar
Race to Space - Thomas Zurbuchen, Professor, ETH, and former Head of Science , NASA Zurich, Efficiency Club 11:30 am – 2:00 pm Mar 02, 2026 Fireside Chat - Morten Wierod, CEO, ABB Zurich, Zunfthaus zur Meisen 11:30 am – 2:00 pm Mar 31, 2026
Energy Storage & Distribution - MeetUP CleanTech
Southern California, Design and Innovation Building, The Basement 6:00 pm – 8:30 pm Feb 26, 2026
The 5th Annual Avantagarde Award Gala 2026 Southern California, The Jonathan Club 6:00 pm – 11:00 pm Nov 7, 2026 US Income Tax Talk and Fireside Chat for Swiss & European Nationals San Francisco, Spott Lucey & Wall Inc. 5:30 pm – 7:00 pm Mar 19, 2026
Welcome Cocktail in Honor of Ambassador Gingrich Zurich, Swiss Re 5:00 pm – 6:30 pm Apr 15, 2026 Fireside Chat - Luca Maestri, VP Corporate Services, Apple Zurich, Zunfthaus zur Waag 7:30 am – 10:00 am Apr 17, 2026
- Members only
You will find more information and events on our website - see more
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