U.S. Agrees to Cut Tariffs on Switzerland to 15%

The U.S. administration has agreed to lower its tariffs on imported Swiss products to 15 percent from 39 percent, the White House said in a statement on Friday.

After months of negotiations, the United States and Switzerland, joined by Liechtenstein, reached a framework trade agreement, noted the White House.

As part of the agreement, Swiss and Liechtenstein companies will invest around 200 billion U.S. dollars in the United States, with at least 67 billion dollars invested in 2026.

Intending to create thousands of jobs across all 50 U.S. states, the investment will span several sectors, including pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, gold manufacturing, and energy infrastructure, the White House said.

The countries aim to conclude negotiations to finalize their trade deal by early 2026. The 15-percent tariff rate on Swiss imports means "the same treatment given to the European Union," according to a fact sheet from the White House.

Switzerland, an export-driven economy, has already taken a hit from U.S. tariffs since U.S. President Donald Trump imposed the 39 percent tariff rate in August, one of the highest globally and higher than the 31 percent he threatened in early April.

According to Swiss customs data, the United States has been Switzerland's largest export market since 2021, accounting for 18.6 percent of exports in 2024.

The United States was the top market for major Swiss industries, including chemicals and pharmaceuticals, watchmaking, and precision instruments last year.

Xinhua/RSS