Overview
- Reports indicate negotiators could finalize a reduction from 39% to roughly 15% as soon as Thursday or Friday, though any agreement still requires President Donald Trump's approval.
- Trump acknowledged active discussions to lower the levy and said he has not set a number, calling Switzerland a good ally that the U.S. wants to help.
- Switzerland's Economy Minister Guy Parmelin held what he called very constructive talks with U.S. Trade Representative Jamieson Greer, while Bern declined public comment on the negotiations.
- Swiss outreach has included private-sector lobbying and investment pledges aimed at addressing U.S. deficit concerns, following an Oval Office meeting between Swiss business leaders and the president.
- The tariff has weighed on key Swiss exporters and the broader economy, while shares of Swatch and Richemont rose on optimism that a deal would ease pressure on U.S.-bound watch sales.