US will cut tariffs on Swiss goods under a new trade framework, with Swiss firms pledging USD 200bn in US investment by 2028.
The US will reduce tariffs on Swiss goods from 39% to 15% under a new trade framework, the Swiss government announced today.
The agreement also includes a commitment by Swiss companies to invest USD 200 billion in the US by 2028.
The framework involves Switzerland, the US, and Liechtenstein, with full trade deal negotiations expected to conclude by the first quarter of 2026. Helene Budliger Artieda, director of Switzerland’s State Secretariat for Economic Affairs, said the lower tariff could be applied within “days, weeks,” once US customs systems are updated.
The agreement sets a 15% tariff ceiling for Swiss drugmakers, including Roche and Novartis, shielding them from potential Section 232 national security duties. The cap will also extend to future Section 232 duties on sectors such as semiconductors, ensuring Swiss exports face no higher sector-specific tariffs.
Earlier, The US and Switzerland, joined by Liechtenstein, released a joint statement on 14 November 2025 regarding a major trade framework aimed at boosting investment and reducing tariffs.
