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

Trade Update • Nov. 14, 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.

The U.S. reached a historic framework for reciprocal, fair, and balanced trade with Switzerland and Liechtenstein to expand market access, attract massive investment, and support American jobs. The agreement reduces tariffs, removes trade barriers, and enhances market access for American agricultural products, manufactured goods, and medical devices. Negotiations are expected to conclude in early 2026.

Tariff Reductions

• The U.S. will reduce tariffs on goods from Switzerland and Liechtenstein to 15%, 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.

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 in early 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.