Trade ties: Switzerland secures US tariff cut to 15%; $200 bn investment push announced

Switzerland on Friday announced plans to invest $200 billion in the US through 2028 after finalising an agreement with the Trump administration to sharply reduce tariffs on Swiss goods.Economy Minister Guy Parmelin said the US has agreed to bring tariffs on most Swiss products down to 15%, matching the rate imposed on the European Union, from the earlier 39%, the highest tariff level faced by any Western country.The Swiss Federal Council thanked Washington for the breakthrough, posting “Thank you President Trump for the constructive engagement” on X.The announcement marks the end of months of tariff escalation. The Trump administration had initially raised duties on Swiss goods to 31% in April, before increasing them to 39% on August 1, triggering sustained diplomatic efforts by Bern and industry groups to roll the rates back.Swiss authorities said Friday’s decision reflects the outcome of those efforts, bringing long-awaited relief for exporters affected by the steep duties.