US - Switzerland near trade deal to sharply reduce tariffs

VTV.vn - The US and Switzerland are close to a trade agreement, possibly reducing taxes after positive negotiations in Washington.

The United States and Switzerland said on November 13 they were closer to a trade deal that would reduce the 39% tariff President Donald Trump imposed on Swiss imports and narrow Switzerland's trade surplus with the United States, after talks in Washington.

Swiss Minister of Economy Guy Parmelin told the press that he and US Trade Representative Jamieson Greer had a very positive exchange, which almost clarified the entire issue. Mr. Parmelin did not disclose the details of the discussion, the Swiss side will provide more information when everything is completely clarified.

An anonymous Swiss source said that after the meeting, the two sides basically reached an agreement. A senior US official also assessed the meeting as very positive, and said that the tax reduction could take place if President Trump accepts the proposed terms. This official said that the Swiss side has proposed a plan to reduce and eventually eliminate the trade surplus with the US; while the US expects Switzerland to significantly reduce tariffs on US goods and loosen non-tariff barriers.

In addition, US officials also emphasized that the announcement of increased investment in the US by Swiss pharmaceutical companies such as Roche is creating a positive impact.

Ahead of the November 13 meeting, a Swiss source said the country expected to reach a deal to reduce tariffs to 15% this week or next, although it still needed final approval from President Trump.

Hans Gersbach, director of the KOF Institute of Economics at ETH Zurich, said the tax cut from 39% to 15% would be a “ray of hope” for Swiss industry. According to Gersbach, in the 15% tax scenario, Swiss economic growth – currently forecast by KOF at 0.9% in 2026 – would jump back above 1%.

Source: https://vtv.vn/my-thuy-si-tien-gan-thoa-thuan-thuong-mai-giam-manh-thue-quan-100251114161555198.htm