The Swiss government has stated that companies cannot exploit a customs union with neighboring Liechtenstein to avoid US tariffs on Swiss goods. A 39% tariff imposed by the US does not apply to Liechtenstein due to its separate trade agreements, but this loophole has been closed. With Liechtenstein facing only 15% tariffs compared to Switzerland’s 39%, some companies had attempted to re-route their exports through the principality to take advantage of the lower rate. However, the Swiss government has made it clear that this tactic is no longer allowed.
Source: https://www.bloomberg.com/news/articles/2025-08-13/swiss-say-firms-can-t-dodge-us-tariffs-via-liechtenstein-route