Following a meeting with US Trade Representative Jamieson Greer, the White House and the Swiss government announced on Friday that the Trump administration intends to reduce US tariffs on exports from Switzerland. The tariff rate that the US imposes on Swiss imports will drop from 39%, which was one of the highest rates the US imposes on goods from any nation, to 15%.
According to a White House information sheet released on Friday, Swiss businesses agreed to spend “at least $200 billion into the United States, with at least $67 billion worth of investment occurring in 2026” as part of the deal. The Swiss government stated in a different announcement that all of the investments will be finished by 2028. Additionally, it stated that it consented to reduce tariffs on “a range of American products.”
A joint statement also stated that duties on Swiss semiconductors and pharmaceuticals would not be more than 15%. The Trump administration has been considering raising tariffs on both industries at this time. Greer previewed the terms of the deal in an interview with CNBC on Friday, saying, “They’re going to send a lot of manufacturing here to United States – pharmaceuticals, gold smelting, railway equipment.”
Among the most popular products that the US purchases from Switzerland are medical equipment, wristwatches, and unsmelted gold. Wristwatches, medical equipment, and other Swiss products may become more affordable for Americans to purchase, even though gold had been exempt from the duties. According to figures from the US Commerce Department, the US had a $38 billion trade imbalance with Switzerland last year. According to Greer, the deal negotiated aims to reduce that.
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