US EditionSwiss Didn't Make a Deal With the Devil on US Tariffs, Minister Says
The framework lowers U.S. tariffs on Swiss goods to 15% and requires up to $200 billion in Swiss investments, pending Swiss parliamentary approval and possible referendum.
- On Friday, Switzerland and the United States announced a non-binding framework cutting U.S. tariffs to 15% from 39% in exchange for $200 billion in Swiss investment in the U.S.
- Swiss industrial groups welcomed the agreement as it puts Swiss companies on equal footing with European Union firms, noting Swiss companies had been eyeing more U.S.-based production.
- Economy Minister Guy Parmelin on Sunday said critics called the pact a `surrender agreement` or `deal with the devil`, but he insisted, `We haven't sold our soul to the devil`.
- A final accord must pass the Swiss parliament and could face a public referendum, while Swiss authorities hope the lower U.S. tariff will be activated within days or weeks.
- As part of the framework, Switzerland agreed to reduce Swiss import duties on a number of U.S. agricultural and industrial products, advancing reciprocal trade concessions.
11 Articles
11 Articles
Switzerland did not make "a deal with the devil", by accepting a new tariff framework with the United States, declared Monday's Minister of Economy Guy Parmelin, rebutting the criticisms that it would match with a "capitalisation" in the trade war...
The Straits Times
Swiss didn't make a deal with the devil on US tariffs, minister says
Switzerland did not make a deal with the devil by agreeing a new tariff framework with the United States, Economy Minister Guy Parmelin said on Sunday, rejecting criticism that it amounted to \"surrender\" in Donald Trump's trade war. Read more at straitstimes.com.
US-Switzerland trade deal cuts tariffs, unlocks $200bn investment in US
The US Switzerland trade agreement will see Washington reduce tariffs on Swiss imports to 15% from 39%, with Swiss companies pledging to invest $200bn in the US by the end of 2028.The post US-Switzerland trade deal cuts tariffs, unlocks $200bn investment in US appeared first on Investment Monitor.
Switzerland will get a 15% reduction in customs duties, instead of the 39% announced on August 1st, at the price of important concessions, but the relief is real, especially in the canton of Neuchâtel, which depends on 98% of exports.
U.S. Cuts Tariffs to 15% for Switzerland and Liechtenstein
The U.S., Switzerland, and Liechtenstein reached a historic trade deal reducing tariffs to 15%, expanding market access for U.S. manufacturers and agricultural exporters, and securing $200 billion in investments. The agreement will create thousands of American jobs across multiple sectors.
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