Swiss government says Switzerland is taking current developments into account during its trade negotiations with the U.S. and is working towards getting a result from the negotiations

Swiss government says Switzerland is taking current developments into account during its trade negotiations with the U.S. and is working towards getting a result from the negotiations

Switzerland and U.S. Trade Negotiations Amid Tariff Uncertainty

The Swiss government has stated it is factoring recent U.S. tariff adjustments into ongoing trade negotiations with Washington, aiming to secure a resolution that ensures stability for Swiss exporters. Current discussions follow a series of tariff changes imposed by U.S. President Donald Trump, which have created volatility for Swiss industries, particularly in mechanical and electrical engineering sectors according to industry reports.

In August 2025, Trump initially levied a 39% tariff on Swiss exports—the highest in Europe—before an agreement in November reduced the rate to 15%, aligning it with U.S. tariffs on the European Union. However, further adjustments, including a recent increase to a 15% temporary tariff on all imports, have reintroduced uncertainty. When combined with an existing 5% duty on Swiss industrial goods, the effective tariff rate now approaches 20%, raising concerns about reduced competitiveness and higher costs for U.S. buyers.

Swiss industry group Swissmem has urged the government to prioritize finalizing the bilateral agreement, emphasizing the need for legal certainty to counteract "global uncertainty" and its dampening effect on investment. While Switzerland eliminated its own industrial tariffs in 2024 to foster trade, the evolving U.S. policy landscape remains a critical challenge.

The Swiss Federal Department of Economic Affairs (SECO) has confirmed it is actively engaged in negotiations, though no public timeline for a resolution has been announced. A formalized agreement would likely address tariff reciprocity, market access, and mechanisms to mitigate future disruptions, building on a framework outlined in a November 2025 joint statement between the U.S. and Switzerland.

As negotiations continue, Swiss exporters face heightened pressure to adapt to shifting trade conditions, with outcomes potentially shaping bilateral economic relations for years to come.