Declaration of intent between the USA and Switzerland on US additional tariffs

On November 14, 2025, the United States announced that the country-specific additional tariff for Switzerland would be limited to a maximum of 15%. The declaration of intent is based on the negotiating mandate adopted on 28 May and Switzerland's offer approved by the Federal Council on 4 August aimed at reducing the bilateral goods trade deficit with the USA. The declaration of intent was agreed after intensive discussions.

Under the declaration of intent, at the same time as the reduction in US tariffs, Switzerland will reduce import duties on a range of US products. In addition to all industrial products, fish and seafood, this includes agricultural products from the US that Switzerland considers non-sensitive. For other US export interests, a solution was agreed that takes Switzerland's agricultural policy interests into account: under the agreement, Switzerland will grant the US duty-free bilateral tariff quotas on selected US export products: 500 tonnes for beef, 1,000 tonnes for bison meat and 1,500 tonnes for poultry meat. The date for implementing these market access concessions will be coordinated with the US to ensure that customs duties are reduced at the same time.

Furthermore, Swiss companies are planning to make direct investments in the USA amounting to USD 200 billion by the end of 2028. This should also include efforts to strengthen vocational education and training.

The announcement of the reduction in additional US tariffs on Swiss imports will serve to stabilise bilateral trade relations. Although overall tariffs remain higher than before the additional tariffs were introduced in April, the agreed reduction in additional tariffs is expected to have a positive impact on the Swiss economy.

Address for enquiries:

GS-EAER Communications +41 58 462 20 07 [email protected]

Publisher:

Federal Department of Economic Affairs, Education and Research