Swiss chocolate industry grapples with new US tariffs and rising prices

In early April 2025, the Swiss chocolate industry found itself in a challenging position due to rising cacao prices and new US import tariffs. These tariffs, implemented by the Trump administration, have significantly impacted Swiss goods, including beloved chocolate, as well as watches, cheese, and coffee capsules. As a result, the Swiss government maintained a cautious stance, acknowledging the potential adverse effects on crucial industries while highlighting that Switzerland is the United States' second-largest trading partner after the EU. Swiss chocolate makers are particularly concerned about the implications of a 31% tariff set against their products, which is notably higher than the 20% tariff on EU exports. This economic strain coincides with upcoming Easter holidays, diminishing the festive spirit for many chocolatiers. At the Festichoc chocolate festival in Geneva, while many shoppers expressed excitement for the seasonal offerings, industry insiders discussed the tariffs and their potential impact on business. Julie Jammes, a marketing manager at Canonica, a Geneva chocolatier with stores in San Francisco, emphasized the uncertainty, stating that the company is waiting to see how the situation unfolds before deciding on their course of action. Jammes added that consumers may reconsider their purchases if the prices of chocolate rise significantly. As more buyers weigh the costs, chocolatiers fear losing loyal customers who might find it hard to justify higher prices. In light of these challenges, Chocosuisse, the Swiss chocolate industry association, expressed disappointment regarding the tariffs, asserting that it is perplexing for Switzerland to be subjected to such measures. The group considers the tariffs as an unjust burden on businesses and a potential detriment to exports. Philippe Pascoet, another chocolatier, voiced concerns about the increased cocoa prices and how sending chocolate to the US has become even more complex due to existing sanitary regulations and customs hurdles. Producers are wary, as the rise in prices, coupled with tariffs, could sway consumer choices. Ultimately, uncertainty looms over the festive chocolate season, with industry experts cautiously optimistic but clearly concerned about the effects of the tariffs on a historically lucrative market. As shoppers enjoy the sweet treats at local festivals, chocolatiers reflect on the challenges ahead, leading to a mix of anticipation and anxiety as they prepare for a potentially altered consumer landscape. The atmosphere at Festichoc, while lively, tinged with apprehension, echoes that the Swiss chocolate industry may need to bolster its resilience in the face of these new economic pressures, aiming to maintain, if not grow, the market share they have fought hard to establish over the years.