Promising Progress: U.S.-Swiss Trade Talks Aim for Tariff Reductions

The U.S.-Swiss trade discussions in Washington showed positive outcomes, potentially leading to a reduction in 39% tariffs on Swiss imports. A proposal to eliminate the trade deficit with the U.S. could result in Switzerland reducing tariffs on U.S. products and easing non-tariff barriers.

U.S.-Swiss trade discussions held in Washington on Thursday were deemed 'very positive' by a senior U.S. official, highlighting a promising path towards tariff reductions.

This development hinges on U.S. President Donald Trump's acceptance of a proposed deal, which envisions lowering the current 39% tariffs on Swiss imports.

In addition, Swiss representatives submitted a plan aimed at eliminating the trade deficit with the U.S., which includes reducing Swiss tariffs on American products and addressing non-tariff barriers.

(With inputs from agencies.)