Today, Switzerland and the United States issued a Joint Statement outlining a Framework to negotiate a future “Agreement on Fair, Balanced, and Reciprocal Trade.” The agreement also covers Liechtenstein.
A few key outcomes stand out for global business leaders:
- The 39% reciprocal tariff introduced in August 2025 will be reduced to 15%
- A 15% tariff ceiling will apply to most Swiss exports affected by the reciprocal tariff
- Tariffs will now apply on an unstacked basis, rather than adding to MFN tariffs
- Sector-specific tariffs remain unchanged
While this does not fully return us to pre-April 2025 conditions, it represents a realistic and constructive achievement during a challenging period.
Why This Matters for Multinational Companies
In an era where geopolitical shifts can reshape supply chains overnight, this Framework enhances:
Competitive parity with companies based in the EU, UK, and Japan
Reduced financial burden on Swiss-based exporters and their U.S. partners
Greater predictability for long-term investment, contracts, and planning
For leaders managing global operations, predictability is not a luxury — it’s a strategic requirement.
Collaboration Makes Progress Possible
This development reflects months of coordinated effort across governments, the private sector, and industry organizations.
A special acknowledgment to all partners — including the Swiss-American Chamber of Commerce and the wider Swiss-U.S. business community — who helped maintain dialogue and build momentum during an uncertain period.
Thank you to everyone who contributed time, expertise, and commitment to achieving a constructive outcome.
What Comes Next?
This framework opens the door to negotiating a binding agreement by early 2026 — a positive milestone for all who believe in stable, mutually beneficial transatlantic trade.
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