Switzerland is reportedly close to reaching a deal with the United States to reduce tariffs on its exports from 39 percent to 15 percent, according to a media report on Monday. A 15% levy would bring Swiss export tariffs in line with those applied to the European Union.
Bloomberg, citing sources familiar with the matter, reported that a deal could be completed within the next few weeks. However, nothing is finalized yet, and negotiations could still fall through.
Background on Switzerland-US Trade Talks
The Swiss government has been seeking better trade terms after former President Donald Trump imposed a punitive 39% tariff on Swiss exports in August. The higher levy significantly affected Swiss manufacturers and exporters seeking access to the U.S. market.
Last week, a meeting at the Oval Office between Trump and a delegation of Swiss corporate leaders and billionaires reportedly yielded positive discussions, boosting hopes for a resolution.
Potential Impact of Lower Tariffs
If finalized, reducing U.S. tariffs to 15 percent would benefit Swiss exporters by:
- Making Swiss goods more competitive in the U.S. market.
- Aligning tariffs with European Union trade terms.
- Supporting Swiss manufacturers and boosting bilateral trade relations.
This prospective deal underscores Switzerland’s continued efforts to secure favorable international trade agreements and strengthen its economic ties with the United States.
