Swiss government says new 15% U.S. tariff ceiling retroactive to mid-November

The Swiss authorities said connected Wednesday that a antecedently announced statement to trim U.S. tariffs connected that country's imports to a ceiling of 15% volition use retroactively to Nov. 14.

The woody reached past period slashed the 39% tariff connected imports from Switzerland that President Donald Trump imposed successful August.

The Swiss Federal Department of Economic Affairs, Education and Research said Wednesday that some countries tin assertion customs refunds from the effectual date.

"With the US tariff ceiling acceptable astatine 15%, trade-weighted US tariffs connected Switzerland volition autumn by astir 10% connected average, the section said successful a statement. "This volition importantly amended entree to the US marketplace for Swiss companies."

The United States was the apical destination for Swiss exports successful 2024. Switzerland's authorities successful October chopped its economical forecast for the country, citing the U.S. tariff complaint that was successful effect until November's woody to slash it.

In speech for the little ceiling, Switzerland agreed to trim tariffs connected imports from the United States of fish, seafood, and immoderate cultivation products, the section said.

Switzerland besides established duty-free bilateral quotas for the U.S. connected 500 metric tons of beef, 1,000 metric tons of bison meat, and 1,500 metric tons of poultry nutrient annually.

Switzerland besides pledged to put astir $200 cardinal successful the U.S. by the extremity of 2028.

"In addition, based connected the associated statement, the US is to assistance the wide further tariff connected further Swiss export products, including aircraft, definite aviation-related parts, rubber products, cosmetics and generic drugs," the section said. "The database volition beryllium published successful the US Federal Register. Switzerland is seeking further exemptions."