Swiss Exports to US Collapsed in First Month of 39% Tariff (1)

The highest US tariff among developed nations dealt a severe blow to Swiss exports there, according to the first reading since the 39% levy took effect, but increased shipments to other countries could offset some of the fallout.

Foreign sales to America excluding gold, adjusted for seasonal swings, were 22% lower in August than in July. That includes significantly fewer watch exports. Imports from the world’s biggest economy held steady.

The US trade deficit with Switzerland narrowed by roughly a third to 2.06 billion francs ($2.6 billion), from 2.93 billion francs the previous month. August’s reading is the second ...