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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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Swiss could clinch deal for lower US tariffs by end of this week, says source
ZURICH: Switzerland could clinch a deal with the United States to lower US tariffs on Swiss exports to 15 per cent as soon as Thursday (Nov 13) or Friday, a Swiss source told Reuters on Tuesday.The source said the deal could also arrive early next week, but cautioned an agreement to lower duties was not certa
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Coverage Details
Total News Sources39
Leaning Left7Leaning Right1Center5Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 38%
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