Global Trade Dynamics

Chocolate and watches, symbols of Swiss precision and luxury, are now caught in the crossfire of Washington’s tariffs. With levies jumping to 39%, Switzerland faces new headwinds in trade and growth, even as exemptions in key sectors soften the blow. What lies ahead for markets, investors, and Swiss resilience?

Swiss GDP slowed to 0.1% in Q2 2025 as US tariffs hit exports, but services and structural strengths kept growth resilient. Outlook hinges on trade talks and sector resilience.

Risk appetite is surging. Cash levels hit a decade low, equities overweight, and optimism abounds. But beneath the rally lie fragilities: overvaluation, crowded trades & policy risk.

India faces rising tariffs and oil risks, with $87B in exports under pressure and growth concerns mounting. Yet structural strengths remain compelling. Trade talks are set to resume, U.S. exposure is limited, and earnings forecasts are strong. Domestic flows continue to build resilience. At Intrasia Wealth, we see short-term volatility as a long-term opportunity, powered by consumption, reform, and retail participation.