USA: “The 39 percent tariffs imposed by US President Trump (applied to products from Switzerland – Ed.) do not affect Stadler to the full extent”, the manufacturer said in its financial results for the first half of 2025.
Diversified increased tariffs on imports from various countries to the US began to be introduced from April this year. ROLLINGSTOCK has published a review of the impact of these measures on the rolling stock market in the country.
According to Stadler, its American subsidiary currently generates between 70% and 80% of value added in the US in accordance with the requirements of the Buy America Act. Of the remaining 20–30%, a significant proportion of component supplies comes not from Switzerland (the location of Stadler’s main production site and head office), but from other European countries where a lower tariff rate of 15% applies. The company is currently analysing all supply chains with the aim of further reducing the share of components subject to high tariffs.
Thus, at the end of 2025, Stadler plans to start production of car bodies at its Salt Lake City plant, which will lead to a further increase in value added. In addition, the manufacturer has revised contractual terms in order to reduce the risks of additional costs.
At the same time, the company pointed out that strict localisation requirements in the US, which it believes violate WTO rules, have already resulted in a decision to create an independent division of Stadler in the region. The company is now expanding production capacity at its Salt Lake City facility. According to the statements, in the first half of 2025 the markets of the Americas accounted for 6.7% of revenue (compared with 3.8% in the first half of 2024), but by the end of 2024 they also represented 15% of all new orders placed.
