Fri, 14 Nov 2025

Fri, 14 Nov 2025 US agrees deal to slash Swiss tariffs to 15% after golden charm offensive

Under the deal, Donald Trump's 39% tariffs will be cut and Switzerland will invest $200bn (£150bn) in the US.
Switzerland and the US have agreed on a deal that will reduce President Donald Trump's 39% tariffs on Swiss imports to 15%. As part of the agreement, Switzerland has committed to investing $200 billion (£150 billion) in the US by 2028. The investment is expected to bring thousands of new jobs to the country. The deal was negotiated after a meeting between Trump and Swiss business leaders at the White House last week. Industry chiefs presented Trump with gifts, including a Rolex gold watch and a gold bar from MKS. Swiss Economics Minister Guy Parmelin said that the agreement will "bring Switzerland into line" with the 15% tariff rate negotiated by the EU. The deal also involves Switzerland axing tariffs on a quota of US meat exports. The Swiss government has agreed to invest $200 billion directly in the US, with one-third of that amount expected to be invested by 2026. The investment will include pharmaceuticals, as well as plans for plane manufacturer Pilatus to build a big US plant and train-maker Stadler to expand its operations in Utah. The agreement will only come into effect after it receives approval from the Swiss parliament and is put to a referendum. Trade negotiator Helene Budliger Artieda said that it may take a few days or weeks for the changes to be implemented. The deal has been welcomed by Swiss industry, which had been waiting with bated breath for a resolution. Yves Bugmann, head of the Swiss Watch Industry Federation, said that the agreement is a "great relief" for the economy.
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