Switzerland’s government has said it is “determined” to continue negotiations with the United States to lower its tariff on Swiss goods, as Switzerland faces the highest tariff rate in Western Europe.
The U.S. has said 39% tariffs on Swiss imports will begin on 7 August, higher than the 31% it announced in April.
The Swiss cabinet, known as the Federal Council, said it “is determined to pursue discussions with the United States beyond the current joint statement proposal and, if necessary, beyond the 7 August deadline”.
“Through its contacts with the business community, the Federal Council has developed new approaches for its discussions with the United States and will continue negotiations with the aim of reaching a trade deal. Switzerland enters this new phase ready to present a more attractive offer, taking U.S. concerns into account and seeking to ease the current tariff situation.”
Switzerland had ended its tariffs on industrial goods in January 2024, with more 99% of U.S. goods entering Switzerland tariff-free. It is not currently considering any countermeasures against the U.S., the Federal Council said.
While Swiss negotiators had reportedly believed the country’s goods would be subjected to a 10% tariff, the U.S. unveiled a 39% rate last week after a call between U.S. President Donald Trump and Swiss President Karin Keller-Sutter. Swiss officials have denied reports that animosity during the call led to a higher tariff rate.
Swiss goods face by far the highest tariff rate of any country in western Europe, under the new slate of U.S. tariffs announced last week. Goods from the European Union will be subjected to a 15% tariff, while the levy on imports from the United Kingdom is 10%.
The U.S.’ goods trade with Switzerland was US$88.4 billion in 2024, according to the Office of the U.S. Trade Representative, while services trade between the two countries reached $99.7 billion. U.S. goods exports to Switzerland were $38.3 billion lower than Switzerland’s exports to the U.S.
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