Published by Global Banking & Finance Review®
Posted on December 17, 2025
2 min readLast updated: January 20, 2026
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US confirms tariff elements in a trade deal with Switzerland, impacting goods and fostering Swiss investments. Tariffs are retroactive to November 14.
WASHINGTON, Dec 17 (Reuters) - The U.S. Trade Representative on Wednesday announced the implementation of tariff-related elements in a trade agreement framework reached with Switzerland and Liechtenstein in November.
The tariff rates announced on November 14 will be retroactive to that date, according to a post in the Federal Register.
The notice amends the U.S. tariff schedule to apply either the most-favored-nation tariff rate or a 15% rate, whichever is higher, to goods from the two countries.
It also adjusts tariffs on certain products including some agricultural goods, unavailable natural resources, aircraft and aircraft parts, and generic pharmaceuticals and their ingredients and chemical precursors, the notice said.
The United States agreed to these modifications with the expectation that the trade agreement will be finalized by March 31. If that does not occur, the U.S. will review and consider the tariff rate modifications, the notice said.
The framework trade agreement announced by the United States and Switzerland last month included Washington slashing its tariffs on imported Swiss products to 15% from 39% and a pledge by Swiss companies to invest $200 billion in the U.S. by the end of 2028.
(Reporting by Susan Heavey and Doina Chiacu; Editing by Andrew Heavens, Aidan Lewis)
The most-favored-nation (MFN) tariff rate is the lowest tariff rate that a country applies to any of its trading partners. It ensures that all countries receive equal trading advantages.
Agricultural goods are products derived from farming and agriculture, including crops, livestock, and dairy products. They are essential for food supply and economic stability.
Foreign investment refers to the investment made by individuals or entities in one country into businesses or assets in another country. It can stimulate economic growth and create jobs.
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