Logitech International SA (LOGI) stock plummeted 10.40% in pre-market trading on Thursday, following the announcement of a 31% tariff on Swiss products by President Trump. The move has sent shockwaves through the Swiss tech industry, with Logitech being one of the prominent victims of this sudden policy shift.

The tariff imposition comes as a significant blow to Swiss tech companies, for whom the United States represents the second-largest sales market with a 14.9% share. According to Swissmem, a Swiss trade association, the country's tech industry exported goods worth approximately $11.5 billion to the U.S. last year. The association described the tariffs as "completely incomprehensible and arbitrary," especially given that Switzerland had removed all of its industrial tariffs in 2024.

While Logitech produces its products in Asia, which may partially insulate it from the direct impact of the tariffs, the company is still facing substantial pressure. The broader market reaction suggests investors are concerned about potential disruptions to Logitech's U.S. sales and profit margins. As the situation unfolds, analysts will be closely watching Logitech's response and any potential strategies to mitigate the impact of these new tariffs on its business operations and financial performance.