Swiss Minister Heads to DC With Trade Deal Near Finish Line

(Bloomberg) — Top trade negotiators from Switzerland are headed to Washington, aiming to complete negotiations on a trade deal with the US that would lower the 39% tariff rate on Swiss goods.

Swiss Economy Minister Guy Parmelin and State Secretary Helene Budliger Artieda are traveling to Washington for additional talks, a spokesperson for the Swiss economic ministry said. The White House didn’t immediately respond to a request for comment.

Switzerland is hopeful it will finalize an agreement that could lower the US duty on its goods, including watches and chocolate, to 15%, people familiar with the matter told Bloomberg earlier this week. That would represent a major victory for the Swiss government, which has sought to cut its rate — currently the highest the US has imposed on a developed nation.

US President Donald Trump earlier this week confirmed his administration was “working on a deal to get their tariffs a little bit lower.”

“I haven’t said any number,” he added when asked about a 15% rate. “But we’re going to be working on something to help Switzerland along. We hit Switzerland very hard. We want Switzerland to remain successful.”

Still, it’s unclear if a final agreement will be reached during the visit. Multiple countries have seen framework trade deals fall apart as they near completion, with Trump often demanding last-minute concessions.

Trump met earlier this month with a group of Swiss billionaires and corporate executives in the Oval Office and later signaled his intention on social media to continue negotiations. US and Swiss negotiators have also discussed the possibility of investments in the US gold-refining industry as part of efforts to persuade the Trump administration to lower the import tariffs for Swiss firms.

–With assistance from Catherine Lucey.

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