One-third of Swiss engineering firms plan shift to EU, survey finds

BERN (Reuters) -Faced with a strong Swiss franc and a drop in U.S. business due to tariffs, 31% of Swiss mechanical and electrical engineering companies plan to transfer some operations to the European Union, industry association Swissmem said on Tuesday Switzerland was this month hit with one of the highest U.S. tariff rates worldwide - 39%, compared with 15% in the neighbouring European Union - while the safe haven Swiss franc has strengthened around 13% this year against the U.S. dollar. 

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