Significant U.S. Tariff Cuts Bring Relief to Swiss Exporters

The U.S. has significantly lowered tariffs on Swiss goods from 39% to 15%, retroactive from November 14. This move follows a preliminary agreement with Switzerland, which includes a $200 billion investment commitment into the U.S. by 2028. Businesses welcome the relief, yet negotiations continue.

The United States has agreed to lower tariffs on Swiss goods from 39% to 15%, offering much-needed relief to Swiss exporters. The agreement is effective retroactively from November 14. Swiss companies have also pledged $200 billion in U.S. investments by 2028, boosting bilateral economic ties.

Swiss Economy Minister Guy Parmelin announced that while the reduction alleviates immediate pressures, future uncertainties remain, particularly concerning pharmaceutical goods tariffs. The Trump administration had initially pegged the high tariff citing trade deficits.

Swiss businesses like Victorinox expressed relief at the reduction, anticipating economic growth between 0.3 and 0.5 percentage points next year as a result. Negotiations to finalize the agreement continue, aiming for completion by early 2026.