As Switzerland’s chocolate makers prepare for the lucrative Easter season, they’re grappling with a double challenge: skyrocketing cacao prices and newly imposed U.S. tariffs on Swiss imports.
The 31% tariffs announced by the Trump administration have sent ripples through Switzerland’s export-oriented economy, affecting not just chocolatiers but also watchmakers and other key industries.
At Geneva’s Festichoc chocolate festival, the mood remained sweet despite the looming economic impact. Julie Jammes of Canonica, which operates stores in San Francisco, described the tariffs as “a shock,” though her company hasn’t decided on its response yet. She expressed concern about customer loyalty when prices jump substantially: “I don’t see why I would pay $45 tomorrow for a box of chocolates that I’d pay $30 for today.”
The Swiss government has adopted a cautious approach, refraining from immediate countermeasures despite the tariffs being significantly higher than those imposed on EU exports. Officials noted that retaliatory actions would only increase costs for Swiss consumers by making American imports more expensive. According to government statements, Swiss exports now face an additional 10% tariff, with another 21% coming into effect shortly.
This comes at a particularly challenging time for chocolatiers already dealing with rising cocoa prices. The industry association Chocosuisse called the tariffs “completely incomprehensible” and warned they would “hit our businesses hard.”
For smaller producers like Philippe Pascoet, the U.S. market has always presented challenges due to strict import controls and sanitary regulations, with many online orders already being detained at customs before these new tariffs.
The United States represents Switzerland’s second-largest trading partner after the European Union, with bilateral trade quadrupling over the past two decades. Switzerland had actually eliminated all industrial tariffs last year, allowing 99% of US goods to enter duty-free.
Domestically, Swiss chocolatiers can still rely on a robust market — Swiss consumers rank among the world’s top chocolate eaters, consuming more than 10 kilograms per person annually.
Read more: Trump tariffs make Easter bittersweet for Swiss chocolatiers
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