Switzerland Moves Forward with US Trade Agreement Negotiations

Overview of Switzerland's Trade Negotiations

ZURICH, Jan 14 (Reuters) - Switzerland's Federal Council has adopted a final negotiating mandate for talks on a legally binding trade agreement with the United States, the government said on Wednesday.

Background and Objectives

The decision by Switzerland's highest executive authority was made after consultation with parliament's foreign affairs committees and the country's cantons and follows a non-binding Swiss-U.S.-Liechtenstein "framework" agreed on November 14.

Tariff Adjustments and Commitments

This was aimed at reducing U.S. tariffs on Swiss imports and paving the way for a comprehensive agreement.

Government's Consultation Process

Under that framework, Washington set a 15% ceiling on country-specific additional tariffs on Swiss imports, down from 39%, with the change applied retroactively from November 14.

In return, Switzerland agreed to cut duties on a range of U.S. products, including fish and seafood and selected agricultural goods it deems non-sensitive.

The Federal Council adopted a draft mandate on December 5, saying the main aim of the planned talks was to "consolidate" tariff relief for Swiss goods entering the United States and to stabilise bilateral trade relations.

In Wednesday's update, the Swiss government said it had slightly clarified the mandate based on feedback, including by committing to consult — rather than merely inform — parliamentary committees and the cantons if new topics arise.

(Reporting by John Revill; Editing by Alexander Smith)