Switzerland wins U.S. tariff rate cut, pledges large investments
Reuters · Just In
Reuters
Just In
The United States and Switzerland announced a framework trade agreement on Friday that includes Washington slashing its tariffs on imported Swiss products to 15% from 39% and a pledge by Swiss companies to invest $200 billion in the U.S. by the end of 2028.
Breakdown
- The U.S. will reduce tariffs on Swiss imports from 39 percent to 15 percent under a new framework agreement. 5s
- Swiss companies have pledged to invest $200 billion in the U.S. by the end of 2028. 13s
- Swiss Economy Minister Guy Parmelin stated the agreement relieves economic pressure and stabilizes access to the U.S. market. 28s
- U.S. Trade Representative Jameson Greer said the deal removes trade barriers and will generate thousands of jobs in the U.S. 1m 4s
- The lower tariff rate could be activated within days or weeks, with the final trade deal expected by the first quarter of next year. 2m 2s