Switzerland and the United States have announced an agreement to lower US customs duties on certain Swiss products from a very high rate of 39% to 15%, which is lower than the rate imposed on members of the European Union (20%). Swiss watchmakers and the Swiss economy in general will now be able to look to the future with greater confidence…
Switzerland will be able to breathe easier in its trade relations with the United States.
While it was one of the countries hardest hit by tariffs on its exports to the United States, which rose to 39% in early August on certain products, an agreement was announced between the two partners on November 14 to lower them to 15%. This is less than the 20% imposed on the European Union.
The new regulations are expected to come into force around ten days after the agreement is signed.
$200 billion by 2028
In exchange for the tax relief, the Swiss government, which thanked Donald Trump “for his constructive engagement,” has committed to investments by its private sector of $200 billion in the United States by 2028.
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Read also > The United States drags down Swiss watch exports in September
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