Switzerland expects the United States to reduce tariffs on Swiss imports from 39% to 15% by early December, Swiss Economic Minister Guy Parmelin confirmed in an interview. The preliminary agreement, reached on 14 November, follows Swiss commitments to invest $200 billion in the US by 2028, mainly in chemicals, machinery, and high-tech sectors.
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Parmelin described the deal as a strategic move to protect both economic and political interests, while also alleviating the impact of the high tariffs on Swiss industries such as machinery, watches, chemicals, and pharmaceuticals. The reduction would align Swiss exporters with EU competitors, enhancing their competitiveness in the US market.
Experts welcomed the tariff cut but noted that it affects only about 4% of Swiss exports and is not a comprehensive solution to broader trade challenges. The agreement still requires ratification by the legislatures of both countries, and precise implementation timelines remain uncertain.
Swiss businesses and industry associations view the measure as a vital step in restoring trade relations, signalling potential for increased investment and improved market access, though analysts caution that the full economic impact depends on smooth execution and further negotiations.
Source: www.cryptopolitan.com
