Switzerland and U.S. seal tariff-cut deal

Switzerland and the United States have reached a trade deal that sharply lowers import tariffs and opens the door to new Swiss investments in key U.S. industries.

Switzerland and the U.S. have signed a trade agreement reducing import duties from 39% to 15%, bringing Swiss tariffs in line with those applied to the EU, Japan and South Korea. The accord also includes new Swiss investments in pharmaceutical production, rail equipment, and gold refining in the United States.

The tariff cut provides relief for major Swiss export sectors such as watches, chocolate, dairy products and pharmaceuticals, which faced rising costs in recent months. Although the deal’s legality is currently under review by the U.S. Supreme Court, it marks a significant step in strengthening bilateral trade ties.