U.S.-Switzerland Trade Breakthrough: Tariffs Set to Plummet

The U.S. and Switzerland are close to finalizing a trade agreement that aims to reduce President Trump's 39% tariffs on Swiss imports, decreasing the trade surplus. Discussions have been constructive, and a reduction to 15% tariffs could significantly boost Swiss industry, potentially saving jobs and encouraging economic growth.

The United States and Switzerland moved closer to finalizing a significant trade agreement aimed at reducing the imposing 39% tariffs on Swiss imports. This development follows productive discussions held in Washington, bringing hope to Swiss exporters.

Although details remain undisclosed, sources close to the talks revealed that a tentative deal has been reached. Both nations expect further negotiations, with Switzerland proposing measures to address the trade surplus with the U.S. Historically, this surplus remained at $38.3 billion in 2024, skyrocketing to $55.7 billion by mid-2025 due to increased Swiss imports.

Hans Gersbach of the KOF Economic Institute suggested that the proposed tariff reduction to 15% offers a 'ray of hope' for sectors such as machinery and watchmaking, essential to Swiss economics. With such a cut, Switzerland anticipates averting job threats and boosting its economic growth to exceed 1% in 2026.

(With inputs from agencies.)