US reduces tax for Switzerland from 39% to 15%

VTV.vn - The Swiss Federal Council announced on November 14 that it had reached an agreement with the US on disagreements related to tariffs.

View of a cargo port in Los Angeles, California, USA. Photo: THX/TTXVN

Specifically, in a notice posted on social network X, the Swiss Federal Council said the tax rate that the US applies to Swiss goods will only be 15%, down from the 39% rate announced by President Donald Trump in August.

The news came after US Trade Representative Jamieson Greer told reporters that Washington had reached a tariff agreement with Bern. According to Mr. Geer, Switzerland agreed to move some manufacturing activities to the US in the near future, and the agreement just reached targets a number of areas such as pharmaceuticals, gold refining and railway equipment.

Details of the agreement that Switzerland has just reached with the US are expected to be provided by the Federal Council on November 15.

According to data from the Swiss Customs and Border Security Agency, the country exports more to the US than it imports. In 2024, Switzerland's goods exports to the US are estimated to reach 52.65 billion Swiss francs (equivalent to 63.7 billion USD), of which pharmaceuticals are the largest item.

The US is currently Switzerland's second-largest trading partner, after the EU. In return, imports of goods from the US reached 14.13 billion francs (equivalent to 17.09 billion USD).

Last May, two major Swiss pharmaceutical companies announced plans to invest in the US market. Specifically, Novartis announced that it would invest an additional $23 billion in the US over the next five years, while Roche announced plans to invest $50 billion over the same period.

In July, US President Donald Trump announced a 39% tariff on Swiss goods, after the Swiss delegation failed to reach an agreement during talks in Washington. This is one of the highest tariffs the US has ever imposed on a trading partner.

Source: https://vtv.vn/my-giam-thue-cho-thuy-si-tu-39-ve-15-100251115102831562.htm