Swiss companies are planning to relocate operations and production abroad in response to U.S. tariffs, according to a study by economiesuisse. A quarter of the surveyed firms have concrete plans in place, with nearly a third increasing investments outside Switzerland. Options include shifting to non-EU or non-U.S. countries and exploring new markets.

Rudolf Minsch, economiesuisse’s chief economist, emphasized that the relocation and investment actions are not detrimental to Switzerland’s attractiveness as a business location. However, he stressed the importance of retaining high-skilled jobs and maintaining research and development within the country. The agreement also includes a commitment of $200 billion in investments from Swiss companies in the U.S.

UBS warns that if the pharmaceutical industry relocates all U.S.-bound production to the country, Swiss economic growth over five years could drop from a projected 10% to 7.7%. Minsch notes that Switzerland, being a small country, is unable to absorb the $200 billion, highlighting the nation’s history of investing abroad to secure domestic jobs.

Read more at Yahoo Finance: Swiss companies plan investment abroad to offset US tariffs, survey shows