Agreement confirmed
Tariffs between Switzerland and the USA fall to 15 percent
Switzerland was bitterly disappointed by what it considered a bad customs deal with the USA. Now the taxes on imports into the USA are to fall from 39 to 15 percent.
The USA and Switzerland have reached an agreement in the customs dispute. The USA is reducing tariffs on Swiss imports to 15 percent from the previous 39 percent, as the Swiss government (Federal Council) announced. The tariffs are therefore as high as the tariffs that apply to the EU. The Swiss government thanked US President Donald Trump.
US Trade Representative Jamieson Greer said in an interview on CNBC that as part of the agreement, Switzerland would relocate manufacturing processes to the United States and reduce its trade surplus with the United States. The agreement also affects the pharmaceuticals, gold smelting and railway equipment sectors.
