Switzerland’s key economic barometer fell in August after US President Donald Trump imposed whopping tariffs on the export-reliant country, the Swiss Economic Institute (KOF) said Friday.

Since the 1970s, KOF’s barometer has been the country’s chief indicator predicting how the Swiss economy is expected to perform in the near future.

“In August, the KOF Economic Barometer drops. After an increase in the previous month, the barometer decreases below its medium-term average again. The outlook for the Swiss economy is dampened,” it said in a statement.

“The sub-indicators for exports and the general business situation are under particular pressure, undoubtedly also due to the new US tariffs on Swiss imports,” it said.

The barometer fell by 3.9 points to 97.4.

The outlook comes the day af

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