Switzerland and U.S. Near Trade Agreement

Switzerland and the U.S. are reportedly close to finalizing a trade deal that would reduce American tariffs on Swiss exports from 39% to 15%. Swiss authorities remain tight-lipped, with the ongoing discussions highlighting the significant impact on Swiss sectors like watches and chocolate, heavily reliant on the U.S. market.

The Swiss government has chosen to remain silent amid reports of a forthcoming trade agreement with the United States, according to a Bloomberg report. The potential deal aims to lower the existing tariffs on Swiss exports to the U.S. from a steep 39% to a more manageable 15%.

A spokesperson for the Swiss Department of Economic Affairs confirmed that negotiations are ongoing but refrained from providing further details. Despite the optimistic expectations of an agreement within the next two weeks, unnamed sources suggest that final terms have yet to be established.

The current tariffs have posed a significant threat to Swiss companies, many of whom rely heavily on the U.S. as a key market, particularly in sectors such as watchmaking, machine tools, and chocolate.

(With inputs from agencies.)