U.S.-Switzerland Trade Tariff Negotiations: A Path to Reduced Duties

The U.S. and Switzerland are negotiating to lower the 39% tariff on Swiss exports. President Trump confirmed discussions, though no new rate is decided. Switzerland aims for reduced tariffs from Washington, remaining hopeful about reaching a deal soon, as the current high duty impacts Swiss exports significantly.

The United States is engaged in negotiations with Switzerland to potentially reduce the steep 39% tariff on Swiss exports to the U.S., President Donald Trump announced on Monday in the Oval Office. While no specific rate has been agreed upon, efforts are ongoing to resolve the trade issue.

According to sources, Switzerland is working hard to finalize a trade agreement that could see significant reductions in the existing tariff rate, initially imposed by Trump in August. This move comes as part of the administration's broader global trade strategy.

Despite the heavy tariff imposition, Washington regards Switzerland as a strong ally and is optimistic about aiding its economic success. Talks are reportedly advancing, with Bloomberg hinting at a potential deal within two weeks, though Swiss officials remain tight-lipped pending further developments.

(With inputs from agencies.)