The United States will slash its tariffs on goods from Switzerland to 15 percent from a crippling 39 percent under a new framework trade agreement that includes a pledge by Swiss companies to invest $200bn into the US by the end of 2028, the Swiss government has said.The announcement by Swiss Economy Minister Guy Parmelin on Friday brings the US tariff rate on Swiss goods in line with those from the European Union (EU). Parmelin told a news conference that the tariff reduction would provide relief for about 40 percent of Switzerland’s total exports.Recommended Stories list of 4 itemsend of listThe US, Switzerland and Liechtenstein, which is part of the deal, aim to conclude negotiations to finalise their trade deal by the first quarter of 2026, the White House said in a statement on Friday as the two nations announced their framework agreement.The lower tariff rate is likely to be activated within “days, weeks,” as soon as the US customs processing systems can be adjusted, said Helene Budliger Artieda, director of Switzerland’s State Secretariat for Economic Affairs.She added that a large portion of Swiss investments in US production would come from the pharmaceuticals and life sciences sectors, but declined to provide specifics. Pharmaceuticals is by far the largest export sector from Switzerland to the US.US Trade Representative Jamieson Greer told CNBC the dea …
