The United States and Switzerland are negotiating a new trade deal aimed at reducing the 39% tariff currently levied on Swiss exports to the United States, President Donald Trump stated on Monday.
Although no exact rate has been determined, Trump confirmed that talks are underway to reduce the trade burden on Switzerland, a major European ally of the United States.
“We’re working on a deal to get their tariffs a little bit lower,” Trump said, adding that “I haven’t set any number, but we’re going to be working on something to help Switzerland.”
The 39% tariff, implemented in August as part of Trump’s wider push to reshape global trade, has had a major impact on Swiss exporters. Switzerland—renowned for its luxury watches, precision equipment, and high-quality chocolate—considers the U.S. one of its top export destinations. The steep duties have sparked concern among Swiss businesses that depend heavily on access to the American market.
Sources familiar with the talks said Switzerland is nearing a 15% tariff deal, aligning with the rate applied to EU exports to the U.S. Some insiders suggest an agreement could be reached within a few weeks, while others caution that the timeline remains uncertain and may extend further.
The Swiss Department of Economic Affairs acknowledged that negotiations are still underway but refrained from providing additional details, stressing that no deal has been finalized.
The Office of the United States Trade Representative reported a $38.5 billion goods trade deficit with Switzerland last year, while the Swiss government described the bilateral trade relationship as ‘relatively balanced.’
Trump admitted that the steep tariff had put pressure on trade relations but emphasized that the U.S. considers Switzerland a trusted ally. “We’ve hit them hard, but we want them to do well,” he remarked, expressing hope for a mutually beneficial agreement.
Experts note that a favorable trade deal could bolster economic ties between the countries and ease the impact of the tariff on Swiss industries.
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