Finance
Swiss sticking to mandate for trade talks with US, minister says
Published by Global Banking & Finance Review®
Posted on March 13, 2026
2 min readLast updated: March 13, 2026
Quick Summary
Switzerland maintains its mandate in ongoing U.S. trade talks despite new U.S. Section 301 investigations into industrial overcapacity and forced labor, following last year’s tariff cut from 39% to 15%.
Switzerland Holds Steady on Mandate for US Trade Talks as Tariff Deal Progresses
Switzerland's Position and Progress in US Trade Negotiations
Mandate for Trade Negotiations
ZURICH, March 13 (Reuters) - Switzerland is sticking to its existing mandate for trade negotiations with the United States that aim to finalise a deal over tariffs struck last year, Economy Minister Guy Parmelin said on Friday.
US Trade Investigations and Switzerland's Response
Parmelin was speaking after the United States said on Wednesday it was launching trade investigations into excess industrial capacity in 16 major trading partners, including Switzerland, and into allegations of forced labour.
Consultations with Affected Countries
"And we will most certainly also consult with these countries to see how to respond to the United States," Parmelin told reporters at a press conference.
Background on Tariffs and Recent Developments
Imposition of US Tariffs on Switzerland
Switzerland was subject to the highest U.S. tariffs in Europe when U.S. President Donald Trump imposed in August a 39% duty on products imported from the country.
Initial Tariff Reduction Agreement
In November, Bern sealed an initial deal that cut the tariffs to 15%, mirroring the rate for the European Union.
Ongoing Negotiations to Formalise the Deal
Switzerland has since begun talks to formalise that deal, which Washington has been pressing to conclude by the end of March.
"The negotiations and discussions are continuing," said Parmelin, who is also Switzerland's president for 2026.
(Reporting by Dave Graham, Editing by Miranda Murray)
Key Takeaways
- •Switzerland stands firm on its negotiation mandate amid fresh U.S. probes into overcapacity and forced labor. (ustr.gov)
- •The 39% U.S. tariffs introduced in August 2025 hit Swiss exports hard, prompting a preliminary deal in November to reduce them to 15%. (lemonde.fr)
- •Swiss negotiations aim to formalize the tariff reduction, with both sides targeting a deal by end‑March, as reiterated by Economy Minister Guy Parmelin. (finance.yahoo.com)
References
Frequently Asked Questions about Swiss sticking to mandate for trade talks with US, minister says
1What is Switzerland's current stance on trade talks with the US?
Switzerland is sticking to its existing mandate for trade negotiations with the United States, aiming to finalize a deal over tariffs.
2Why are the US and Switzerland negotiating over tariffs?
Switzerland was subject to high US tariffs but reached an initial deal to cut them, and the countries are working to formalize this agreement.
3What sparked the renewed trade discussions between Switzerland and the US?
The US launched trade investigations into excess industrial capacity and forced labour practices, including actions impacting Switzerland.
4What is the current tariff rate on Swiss products entering the US?
The tariff rate was reduced from 39% to 15% after an initial deal between Switzerland and the United States.
5Who is representing Switzerland in the trade negotiations?
Economy Minister Guy Parmelin, who will also serve as Switzerland's president in 2026, is leading the negotiations.