Published by Global Banking & Finance Review®
Posted on May 28, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on Google
The Swiss government drafts a mandate to negotiate U.S. tariffs, aiming to strengthen economic ties without expecting a major economic slump.
ZURICH (Reuters) -The Swiss government wants to resolve customs issues with the United States and has agreed a draft negotiating mandate on trade and economic matters to be sent to parliament's foreign policy committees and the cantons, it said on Wednesday.
Bern does not expect an economic slump as a result of U.S. tariffs although exporters and suppliers are affected, it said.
"Switzerland's goal is to strengthen bilateral economic relations with its most important trading partner after the EU," the government said. "Switzerland is committed to preserving and, if possible, improving market access in the USA."
Switzerland has been working hard to temper the impact of U.S. President Donald Trump's tariffs policy, which initially slapped import duties of 31% on Swiss products.
Both countries have agreed to accelerate trade talks, with President Karin Keller-Sutter meeting U.S. Treasury Secretary Scott Bessent earlier this month.
Non-tariff measures are being discussed with the U.S., for example on simplified approval of medical devices, Bern said.
Investments already promised by Swiss companies in the United States are also mentioned in the negotiating mandate, while talks will continue on other topics such as vocational training and tax issues, the government added.
Switzerland has so far been spared the full impact of tariffs due to exemptions on some product categories like pharmaceuticals, but Bern said the situation was "very challenging" and that a global slowdown was dampening the economy.
"However, a macroeconomic slump, such as during the COVID-19 pandemic, is not expected at present," it added.
In response, the government will seek to preserve jobs by extending the time companies can receive short-time working compensation for their workers from 12 to 18 months.
The government wants to help companies by improving public procurement and reducing the cost of regulations, it said.
(Writing by John Revill and Madeline Chambers, editing by Kirsti Knolle and Dave Graham)
Switzerland aims to strengthen bilateral economic relations with the U.S., its most important trading partner after the EU.
While some Swiss products faced import duties of 31%, Switzerland has been spared the full impact due to exemptions on certain categories like pharmaceuticals.
The government plans to extend short-time working compensation for workers from 12 to 18 months and improve public procurement while reducing regulatory costs.
The Swiss government does not expect a macroeconomic slump similar to the COVID-19 pandemic, despite the challenges posed by U.S. tariffs.
Discussions include non-tariff measures, simplified approval of medical devices, and investments by Swiss companies in the U.S.
Explore more articles in the Headlines category
