US-Switzerland Trade Deal: Tariffs to Drop
Update: 2025-11-11
Description
On November eleventh, the U.S. and Switzerland are reportedly nearing a trade agreement to significantly reduce tariffs, currently at thirty-nine percent. President Trump confirmed White House officials are working on a deal to lower these rates, potentially to fifteen percent, aligning it with EU exports. This comes after initial tariffs met concern in Switzerland, a country known for exports of watches, jewelry, machinery, and pharmaceuticals. High-profile Swiss businesses opposed the initial tariff, with shares of Swiss firms like Swatch Group and Richemont increasing following news of potential reductions. The high tariff was among the steepest duties President Trump levied this year due to concerns over trade imbalances with Switzerland and other nations. The Swiss government maintains the overall trade relationship is relatively balanced, with a goods surplus not due to unfair trade practices.
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