Switzerland adopts negotiating mandate for tariff agreement with US

An outline agreement Washington and Bern announced in November would reduce average US levies on Swiss industrial exports from 39% to 15%. Keystone-SDA

The Swiss government approved the draft negotiating mandate for a trade agreement with the United States on Friday. It will now consult the relevant parliamentary committees and the cantons.

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The basis for the negotiating mandate is the legally non-binding declaration of intent between Switzerland and the US dated November 14. According to the text, the current additional tariffs of 39% are to be replaced by a flat rate of 15%.

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The points set out in the memorandum of understanding are now to be realised. This applies, among other things, to tariff concessions on goods from the US – although the US must also be prepared to make concessions. On the Swiss side, additional tariff concessions must be compatible with agricultural policy.

As before, Switzerland does not want to levy customs duties on electronic transmissions. According to the press release on Friday, the Federal Council confirms that it will continue to refrain from introducing a digital services tax. Swiss companies want to invest at least $200 billion in the US within five years.

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Adapted from German by AI/sb

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