Swiss companies plan to relocate some of their operations and production abroad to deal with the impact of U.S. tariffs, according to a study by business association economiesuisse. It surveyed more than 400 companies before and after Switzerland last month agreed a deal to reduce U.S. tariffs from 39% to 15%, with a quarter of the firms already having identified concrete steps they were taking. Nearly a third of those firms have decided to increase investments outside Switzerland and shift production and operations abroad, the survey said. Some 16% of companies said they were going to relocate operations to countries outside the European Union or the United States, in addition to 10% going to the U.S, and another 5% looking at the European Union.