Switzerland's exports to the US have experienced a big dump for the second consecutive month, as shipping companies await a tariff protocol.

According to Gate News bot, Bloomberg reported that Swiss exports to the US have fallen for the second consecutive month as cross-border shippers await the trade protocol proposed by President Donald Trump to alleviate tariffs.

The Swiss Customs and Border Security Agency stated on Thursday that after seasonal adjustments, Switzerland's exports fell by 42% month-on-month in May. Imports from the world's largest economy, the United States, increased by 6.5%. The trade surplus was only 2 billion Swiss francs (approximately 2.4 billion USD), the smallest in nearly five years.

Previously, due to traders shipping in advance before Trump's "Liberation Day" at the beginning of April, Switzerland's exports surged to a record high in March. This data was released prior to this. The export increase was so strong that it propelled Switzerland's economic growth rate to its highest level in two years.

The Swiss government is negotiating a trade agreement with the United States and has signed a plan aimed at reaching a compromise on reducing tariffs on Swiss agricultural products that are not produced in large quantities. Swiss Minister of Economy Guy Parmelin stated that he hopes to reach an agreement by early July.

Before Trump announced that several global tariffs would be suspended to a uniform 10% (valid for 90 days) and would continue until July 9, Switzerland was initially subject to a 31% tariff. According to Swiss officials, the understanding reached by both parties is that as long as negotiations are ongoing, the additional tax will remain at this lower level even after the deadline. The U.S. has not confirmed this news.