Switzerland wins US tariff rate cut to 15%, pledges $200 bil. in US investments

ZURICH — The United States will slash its tariffs on goods from Switzerland to 15 percent from a crippling 39 percent under a new framework trade agreement that includes a pledge by Swiss companies to invest $200 billion into the U.S. by the end of 2028, the Swiss government said on Friday. “This agreement puts Switzerland on an equal footing with the European Union and brings the tariff level down from 39 percent to 15 percent,” Swiss Economy Minister Guy Parmelin said in announcing the deal, which affects about 40 percent of Switzerland’s exports. “Of course, we would prefer (the $200 billion) to be invested in Switzerland,” Parmelin added. “And that’s why the Federal Council in parallel is doing everything to see how we can reduce costs for our businesses.” U.S. Trade Representative Jamieson Greer said earlier that the White House would announce details later on Friday. The lower tariff rate is likely to be activated within “days, weeks,” as soon as the U.S. customs processing systems can be adjusted, said Helene Budliger Artieda, director of Switzerland’s State Secretariat for

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