ZURICH, Dec 9 (Reuters) – The lowering of U.S. tariffs on Switzerland from 39% to 15% will take effect retroactively from November 14, the Swiss government said in a statement on Tuesday.
The United States and Switzerland sealed a preliminary agreement on November 14 under which Washington would cut the tariffs on Swiss goods, while Swiss companies pledged to invest $200 billion in the U.S. by the end of 2028.
U.S. President Donald Trump imposed the duties on Switzerland in August, saying they were justified by the U.S. trade deficit with the Alpine country.
The tariffs were the highest the Trump administration put on any European country, and stunned the Swiss business community.
“The regulation on import duties for goods from the United States will come into force retroactively on November 14, 2025,” the Swiss government said in a statement.
“This provides for the reduction of import duties on goods originating in the United States within the scope of Annexes 1 and 2 of the Regulation,” it added.
(Reporting by Ludwig Burger in BerlinWriting by Madeline Chambers and Dave Graham Editing by Kirsti Knolle and Ludwig Burger)
Comments