Switzerland is about to get a big break from the United States — a 15% cut on tariffs for certain Swiss exports. This news came directly from Swiss Economy Minister Guy Parmelin.
Parmelin said the deal isn’t just about lower tariffs. Switzerland has also agreed to make new investments in the US, worth around $200 billion. Both sides plan to share more details later today as part of a larger trade package.
This move comes after the US promised to take another look at the high duties placed on Swiss goods. For years, Switzerland has faced some of the toughest tariffs among European exporters.
These tariffs were first put in place under President Donald Trump. At the time, Trump said the goal was to push trading partners into making new deals and boosting investment flows into the United States.
