The Swiss economy will likely grow more slowly than previously expected next year due to the massive import tariffs imposed by US President Donald Trump, the economy ministry said Thursday.

Trump blindsided Switzerland when he announced that incoming Swiss goods would be hit with a huge 39-percent tariff on August 1, one the highest new levies he imposed on dozens of countries.

The Swiss economy ministry's State Secretariat for Economic Affairs (SECO) said it was now looking at weaker growth.

"An updated economic scenario from SECO shows that, as a result of higher US import tariffs, the Swiss economy is likely to grow more slowly than previously expected, particularly in 2026," it said in a statement.

In its June forecast, the Swiss government's expert group on business cycles project

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