Onshoring Trend Accelerates as Swiss Firms Flee European Trade Turmoil

The transatlantic trade turmoil is accelerating a significant business trend: onshoring production in the United States. The decision by Swiss giants Lindt (chocolate) and Victorinox (knives) to move some manufacturing to the US is a stark example of how companies are adapting to the new era of tariffs, even if they are not directly part of the EU.
These moves are a direct response to the protectionist environment. By producing goods within the US, these companies can bypass the tariffs levied on exports from Europe. It is a strategic decision to trade the complexities of transatlantic shipping and customs for the certainty of domestic production, albeit at a high initial cost.
This trend has serious implications for Europe’s industrial base. If more companies follow suit, it could lead to a gradual hollowing out of manufacturing jobs and investment, particularly in high-value, export-oriented sectors. The new US-EU deal, which solidifies a 15% tariff on many goods, does little to discourage this trend and may even encourage it.
The actions of these Swiss firms serve as a warning to EU policymakers. The true cost of the ongoing trade friction is not just the tariffs themselves, but the long-term strategic decisions they force companies to make. The new deal may have averted an immediate crisis, but it does not solve the underlying problem that is pushing European manufacturing across the Atlantic.