Switzerland is close to concluding an improved agreement with the US on 15% tariffs, instead of the current 39%. This is reported by Bloomberg, according to UNN.
Details
Switzerland is close to concluding a deal on a 15% tariff on exports to the US, which will be a relief for the country after a punitive 39% levy was imposed on it in August. The agreement could be concluded within the next two weeks
The publication's sources emphasized that nothing has been decided yet and negotiations could fall through, as happened during discussions between US and Swiss trade representatives in late July.
Previous negotiations ended with Switzerland receiving the highest tariff rate the US has imposed on any developed country. Since then, the country has been trying to secure better terms, and these efforts gained momentum last week when a group of Swiss billionaires and corporate executives met with Donald Trump in the Oval Office.
The meeting was so successful that Trump subsequently instructed trade representative Jamieson Greer to intensify direct negotiations.
The conclusion of the agreement will be a successful outcome of several weeks of intensive diplomatic negotiations in Washington, conducted by Switzerland's chief trade diplomat Helene Budliger Artieda, as well as the result of a charming diplomatic campaign by Swiss corporations
Recall
US President Donald Trump will maintain a basic tariff rate of 10%, although it was expected that he might raise the minimum level to 15% or higher. However, such tariffs will not be for everyone.