WASHINGTON (Realist English). The United States and Switzerland have reached a new trade agreement that will sharply reduce tariffs and commit Swiss companies to major investments in the American economy, US Trade Representative Jamieson Greer said on Friday.
Speaking on CNBC, Greer confirmed that the two sides had “essentially reached a deal,” ending months of talks that accelerated after the Trump administration imposed a 39% tariff on Swiss goods in July. Under the agreement, Switzerland said duties on its exports to the US will drop to 15%, with full details expected later Friday.
Bern also announced that Swiss firms will invest $200 billion in the US by the end of 2028, including funding for education, workforce training and manufacturing expansion. Sectors expected to benefit include pharmaceuticals, gold refining and railway equipment — areas where Swiss companies traditionally run large trade surpluses with Washington.
“They’re going to send a lot of manufacturing here,” Greer said, adding that the deal had been “in the works since April” and would soon be published on the White House website. The new tariff rate will align Switzerland with the European Union’s current level under US trade rules.
Greer said the agreement maintains a tariff because the administration remains focused on reducing the US trade deficit. In return, Switzerland agreed to manage its surplus by expanding domestic production in the US. He cited Swiss pharmaceutical giant Roche, which earlier this year pledged to invest $50 billion in American facilities.
In a statement, the Swiss government said lowering the additional US tariffs would “stabilise bilateral trade relations” and provide relief to exporters, although overall duties remain higher than before the April increases. Switzerland’s export-driven economy — built on pharmaceuticals, watches, precious metals and luxury goods — has struggled under the previous 39% rate, prompting officials last month to cut the country’s 2026 growth forecast.
The Swiss franc strengthened 0.4% against the dollar following the announcement.
