On Friday the United States and Switzerland announced the conclusion of a trade agreement ending several months of customs tensions. According to a joint statement, tariffs between the countries will be reduced to 15%, after peaking at 39% last July following a decision by the Trump administration. This reduction aims to boost bilateral trade and mitigate the impact on key sectors of the Swiss economy.
The agreement provides for the transfer of production capacity to the United States in the pharmaceutical, gold metallurgy and railway equipment sectors. The US Trade Representative, Jamieson Greer, welcomed the compromise, describing it as beneficial for the US manufacturing industry. In response, the Swiss franc appreciated by 0.4% against the dollar, while the Swiss government confirmed the agreement via a message on X, stating that further details would be released later in the day.
The imposition of punitive tariffs by Washington had severely affected the Swiss economy, which is particularly exposed to exports. Last month, Bern reduced its growth forecasts for 2026, citing the significant impact of customs duties on strategic sectors such as watches, pharmaceuticals and precious metals. The full terms of the agreement will be published in the coming hours on the White House website.
