Washington, Bern strike deal including major tariff cuts

Shafaq News – Washington / Bern

Switzerland is set to receive a major tariff reduction of 15% on select exports to the United States, according to Swiss Economy Minister Guy Parmelin.

In a statement, Parmelin revealed that the agreement also includes new Swiss investment commitments in the US, at about $200 billion, forming the core of a broader trade package expected to be announced later today.

The deal follows a US pledge to reassess duties on Swiss goods, which faced some of the highest tariff levels imposed on any European exporter.

These tariffs were introduced by President Donald Trump as part of what he described, in previous statements, as a strategy to pressure trading partners into bilateral concessions and increased US-bound investment.