U.S. Tariff Reduction Deal with Switzerland: Timeline Unclear

Swiss Economy Minister Guy Parmelin highlighted that the U.S. is cognizant of the lengthy process involved in formalizing a trade deal that would reduce tariffs on Switzerland. The deal is retroactive from November 14, but legislative debate is expected to be extensive.

On Wednesday, Swiss Economy Minister Guy Parmelin announced that the United States understands the complexities of formalizing a preliminary trade agreement with Switzerland aimed at reducing tariffs.

According to Parmelin, U.S. officials are aware that parliamentary discussions could be prolonged and have not imposed any deadline for swift conclusion.

This development follows the Swiss government's statement that tariff reductions will apply retroactively from November 14, despite the anticipated length of parliamentary debate.

(With inputs from agencies.)