U.S. and Switzerland in Talks to Cut 39% Tariff on Swiss Exports

The United States and Switzerland are working toward a new trade agreement that could lower the steep 39% tariff currently imposed on Swiss exports to the U.S., President Donald Trump announced on Monday. While no specific rate has been finalized, Trump confirmed ongoing discussions aimed at easing the trade burden on Switzerland, one of America’s key European partners.

“We’re working on a deal to get their tariffs a little bit lower,” Trump said from the Oval Office. “I haven’t set any number, but we’re going to be working on something to help Switzerland.”

The 39% tariff, introduced in August as part of Trump’s broader effort to reset global trade relations, has significantly affected Swiss exporters. Switzerland, known for its luxury watches, precision machinery, and premium chocolate, counts the U.S. as one of its largest export markets. The current duties have raised concerns among Swiss companies that rely heavily on U.S. trade access.

According to a Bloomberg report, citing unnamed sources, both nations are close to finalizing a deal that would reduce the U.S. tariff rate to around 15%. The Swiss Department of Economic Affairs confirmed that talks are ongoing but declined to comment further, emphasizing that no agreement has yet been reached.

Trump acknowledged that the high tariff had strained trade relations but stressed that Washington views Switzerland as a valued ally. “We’ve hit them hard, but we want them to do well,” he said, signaling optimism about reaching a fair compromise.

Analysts suggest that a successful trade deal could strengthen economic ties between the two nations and provide relief to Swiss industries affected by the tariff. A potential agreement could be finalized within the next two weeks, though final details remain under negotiation.