Switzerland could secure deal to lower U.S. tariffs to 15%, easing pressure on exporters

Switzerland may reach an agreement with the United States to reduce tariffs on Swiss goods from 39% to 15% as early as this week, a source told Reuters, offering relief to Swiss exporters of watches, chocolate, and precision machinery.

The potential deal follows constructive talks between Swiss Economy Minister Guy Parmelin and U.S. Trade Representative Jamieson Greer, as well as a coordinated effort by Swiss companies including Roche, Novartis, Richemont, Rolex, and MSC to propose investments and market access initiatives in the United States. Switzerland has offered to increase spending on U.S. defense equipment, expand opportunities for American energy firms, and boost gold refining capacity stateside to help reduce the trade deficit.

President Donald Trump has indicated he is working on a plan to lower tariffs, though any agreement requires his formal approval. Swiss business groups welcomed the prospect, noting that while 15% remains high, it would put Swiss exporters on a level playing field with competitors from Germany, Austria, Italy, and Japan.

The news lifted shares of Swiss luxury and industrial companies, reflecting investor optimism that a tariff reduction would support revenue and competitiveness in the U.S. market.