Overview
- U.S. Trade Representative Jamieson Greer said the two sides have a deal in principle, and Swiss economics minister Guy Parmelin said the 15% rate would match EU exporters’ treatment.
- Swiss officials say the framework pairs tariff relief with about $200 billion in planned Swiss corporate investment in the United States by 2028, including major pharma spending, a new Pilatus facility and gold refiners shifting output.
- Switzerland would lower import duties on a range of U.S. products and grant tariff‑free quotas for selected exports, including 500 tons of beef, 1,000 tons of bison and 1,500 tons of poultry, with SECO saying 99.3% of U.S. goods could enter duty‑free.
- Multiple outlets report that a small group of Swiss business leaders visited the Oval Office earlier this month and presented gifts, including a Rolex and a gold bar, a route that has stirred domestic criticism over private influence.
- The move follows months of strain after 39% U.S. tariffs took effect in August, with Swiss exporters hit and GDP contracting in the third quarter as Bern sought to align treatment with the EU.