US and Switzerland Strike Deal to Cut Tariffs and Boost US Investment
The US and Switzerland have finalized a new trade agreement that will cut country-specific tariffs on Swiss imports to 15%, according to U.S. Trade Representative Jamieson Greer.
The Swiss government confirmed the news in a statement on X, adding that full details will be released later Friday.
As part of the agreement, Switzerland will direct $200 billion of investment into the US by the end of 2028 — covering manufacturing, infrastructure, education programs, and workforce training.
Greer said the deal has been under negotiation since April and will bring a new wave of Swiss production to the United States, including:
- Pharmaceutical manufacturing
- Gold refining and processing
- Railway and heavy equipment manufacturing
“These commitments directly support American manufacturing and help balance the current trade deficit,” Greer said, noting that tariff reductions are paired with Swiss pledges to expand US-based operations in areas where Switzerland typically runs a surplus.
Earlier this year, Swiss pharma giant Roche pledged $50 billion in US investments, part of a broader industrial shift encouraged by the new trade framework.
A Reset After Months of Disruption
Tariffs on Swiss imports were originally increased to 39% in July, one of the highest country-specific rates at the time. Swiss officials have since cut their 2026 growth forecast, citing the “heavy burden” of US tariffs and the impact on key export sectors including pharmaceuticals, watches, and precious metals.
The new deal aligns Swiss tariff rates with those applied to goods from the European Union, marking a stabilization in bilateral trade following months of strained negotiations.
The Swiss franc strengthened 0.4% against the US dollar following the announcement.
WSA Take
This deal fits a broader global pattern: major economies are using strategic trade agreements to secure manufacturing, stabilize supply chains, and attract private-sector investment. Switzerland’s $200B commitment shows how capital is repositioning toward the US across pharmaceuticals, industrial metals, and high-value manufacturing.
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