U.S. Lowers Tariffs to 15% in Historic Trade Deal with Switzerland and Liechtenstein (Updated)

Trade Update • Nov. 14, 2025 • Updated Dec. 17, 2025

Key Points

• The U.S., Switzerland, and Liechtenstein agreed on a Framework for Reciprocal, Fair, and Balanced Trade.
• Switzerland and Liechtenstein agreed to a cumulative reciprocal tariff rate no higher than 15%, the same treatment as the EU.
• Swiss and Liechtenstein companies plan to invest at least $200 billion in the U.S., including $67 billion in 2026.
• The deal expands market access for U.S. manufacturers, farmers, and agricultural exporters, including poultry, beef, and bison.

• Update: Reduction in the reciprocal tariffs (15%) for goods from Switzerland and Liechtenstein are retroactive to 12:01 a.m. ET Nov. 14., with CBP Guidance now available.

The Office of the United States Trade Representative (USTR) published a Federal Register notice confirming that reductions to certain reciprocal tariffs on goods from Switzerland and Liechtenstein are retroactive to 12:01 a.m. ET on November 14, 2025. The U.S. Customs and Border Protection (CBP) has also issued guidance on implementing the November 14 U.S.–Switzerland–Liechtenstein Framework for an Agreement on Fair, Balanced, and Reciprocal Trade, under which the parties agreed to modify specific tariff rates.

Fact Sheet: The United States, Switzerland, and Liechtenstein Reach a Historic Trade Deal.

The USTR notice amends the Harmonized Tariff Schedule of the United States (HTSUS) to apply the higher of the U.S. most-favored-nation rate or a combined 15% tariff (MFN plus a reciprocal tariff) on products of Switzerland or Liechtenstein, and to adjust tariffs on certain goods, including selected agricultural products, unavailable natural resources, aircraft and aircraft parts, and generic pharmaceuticals and related inputs. USTR indicated these modifications are contingent on successful negotiation of a final agreement by March 31, 2026, after which the United States may review and reconsider the changes if no agreement is reached.

Tariff Reductions

• The U.S. will reduce tariffs on goods from Switzerland and Liechtenstein to 15% (retroactive to November 14, 2025), the same as the EU treatment.
• Switzerland and Liechtenstein will remove tariffs across the agriculture and industrial sectors, including fresh and dried nuts, fish and seafood, certain fruits, chemicals, and spirits such as whiskey and rum
• Switzerland will establish tariff rate quotas for American poultry, beef, and bison.

CBP Guidance

U.S. Customs and Border Protection (CBP) has provided guidance to the application of Reciprocal tariffs on covered products of Switzerland and Liechtenstein, effective for goods entered for consumption or withdrawn from warehouse for consumption on or after 12:01 a.m. Eastern Time on November 14, 2025. These changes implement amendments to Executive Order 14257 and introduce a revised tariff structure, new exemptions, and updated reporting requirements.

Revised Reciprocal Tariff Structure

For covered products of Switzerland and Liechtenstein, the applicability of Reciprocal tariffs now depends on the Column 1-General ad valorem (or ad valorem equivalent) duty rate:

• Switzerland

  • Column 1 duty rate ≥ 15%: No additional Reciprocal tariff applies (HTSUS 9903.02.82).

  • Column 1 duty rate < 15%: Combined Column 1 and Reciprocal tariff rate equals 15% ad valorem (HTSUS 9903.02.83).

• Liechtenstein

  • Column 1 duty rate ≥ 15%: No additional Reciprocal tariff applies (HTSUS 9903.02.87).

  • Column 1 duty rate < 15%: Combined Column 1 and Reciprocal tariff rate equals 15% ad valorem (HTSUS 9903.02.88).

Where a product is subject to a specific or compound Column 1 rate, importers must calculate an ad valorem equivalent by dividing the Column 1 duty payable by the customs value of the merchandise. When declaring the 15% ad valorem duty, filers must report the duty on the applicable Chapter 99 Reciprocal tariff heading (9903.02.83 for Switzerland; 9903.02.88 for Liechtenstein), while reporting the entered value and zero duty on the underlying Chapter 1–97 classification. Reciprocal tariffs remain eligible for drawback. HTSUS headings 9903.02.36 and 9903.02.58 are discontinued after November 13, 2025.

New Reciprocal Tariff Exemptions

Effective November 14, 2025, certain categories of Swiss and Liechtenstein-origin products are newly exempt from Reciprocal tariffs, including specific agricultural goods, unavailable natural resources, civil aircraft articles, and non-patented pharmaceutical products. New Chapter 99 headings have been established to declare these exemptions, including:

• Agricultural products and unavailable natural resources (9903.02.84; 9903.02.89)

• Civil aircraft, engines, parts, components, and simulators meeting General Note 6 criteria (9903.02.85; 9903.02.90)

• Non-patented pharmaceutical articles and ingredients (9903.02.86; 9903.02.91)

Importers must retain supporting documentation to substantiate eligibility, particularly for pharmaceutical-related exemptions.

Other Exemptions Remain in Effect

All other elements of the Reciprocal tariff program remain unchanged, including existing exemptions under HTSUS headings 9903.01.30–9903.01.34 and 9903.02.78.

HTSUS Sequencing and Duty Reporting

CBP requires that duties on entry summaries be accurately associated with each applicable HTSUS number. Duties cannot be combined across classifications. When multiple secondary classifications apply, filers must follow CBP’s prescribed reporting order, including trade remedies and IEEPA-based duties. Refer to CBP guidance for more details.

Previously Filed Entries

Importers should promptly review and correct previously filed entries impacted by these changes. For unliquidated entries, refunds may be requested via Post Summary Correction. For liquidated entries, refunds must be pursued through a protest filed within 180 days of liquidation under 19 U.S.C. §1514.

Addressing Non-Tariff Barriers

Switzerland and Liechtenstein will address non-tariff barriers by:

• Easing restrictions on U.S. poultry and simplifying requirements for dairy products
• Opening markets for U.S. medical devices
• Streamlining customs procedures for faster entry of U.S. goods
• Strengthening intellectual property protection, including fair treatment of geographical indications
• Addressing forced labor and enhancing labor cooperation
• Maintaining high environmental standards and exploring additional measures
• Aligning international standards to reduce export barriers
• Recognizing U.S. Federal Motor Vehicle Safety Standards

Other Commitments

Digital Trade and Supply Chain Security

• The U.S., Switzerland, and Liechtenstein commit to robust digital trade principles, including refraining from harmful digital services taxes.
• Strengthened supply chain resilience and alignment against non-market policies of third countries.
• Expansion of cooperation on export controls, sanctions, and investment screening.

Investment and Job Creation

• Swiss and Liechtenstein companies such as Roche, Novartis, ABB, and Stadler will invest at least $200 billion in the U.S., including $67 billion in 2026.
• Investments will create thousands of jobs across pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, gold manufacturing, and energy infrastructure.
• Workforce development will include Registered Apprenticeships and training programs in high-growth sectors.
  

What Happens Next?

The U.S., Switzerland, and Liechtenstein will work to finalize the agreement by March 31, 2026.

How GHY Can Help?

GHY specializes in helping businesses navigate and reduce the impacts of tariffs through strategic solutions tailored to their needs. Our experts can audit your supply chain to identify inefficiencies, uncover cost-saving opportunities, and ensure compliance with evolving trade regulations. We also employ tariff engineering techniques to optimize product classification and sourcing strategies, minimizing duty exposure and maximizing profitability.

By partnering with GHY, your business gains access to the tools and expertise needed to streamline operations and stay competitive in a challenging trade environment.

Contact Us Today! Booking a Meeting, email consult@ghy.com, or call +1 (800) 667-0771.