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U.S. and Switzerland working on a deal to slash 39% tariffs
- On November 10, 2025, Switzerland is close to securing a 15% tariff on exports to the United States, with a deal possibly concluded in the next two weeks to roll back the 39% levy imposed in August.
- President Donald Trump tied the tariff to his view of a near $40 billion U.S. goods deficit, and Swiss officials said the Aug. 1 announcement surprised them after expecting a 15% duty.
- Facing collapsed U.S. demand, the Swiss dairy industry urged cheese makers to cut output by 5% and recommended trimming milk production by 50,000 tons, prompting farmers like Boris Beuret to prematurely send three cows to slaughter.
- The economic fallout has already hit as Switzerland's economy likely shrank in the third quarter and unemployment rose to its highest in four years, while Swatch Group and Richemont shares rose Tuesday.
- Shuttle diplomacy by Helene Budliger Artieda has sought a deal after weeks of talks and a Swiss corporate charm offensive, but officials warned negotiations remain fragile as USTR Jamieson Greer stepped up talks Friday.
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A possible deal with Washington was on Wednesday at the Federal Council. Bern learned from the debacle last summer and wants to shout nothing.
·Zürich, Switzerland
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US President Donald Trump announced that he is working with Switzerland to reduce tariffs on exports to the United States. They currently stand at 39%, making them among the highest in the world, according to RBC-Ukraine, citing Reuters and Bloomberg. "We are working on an agreement to lower their tariffs a little. I haven't set any figures yet, but we are developing a solution that will help Switzerland," the US President said. Trump acknowledg…
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Total News Sources41
Leaning Left9Leaning Right2Center5Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 31%
13%
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