Switzerland says lower US tariffs to be applied retroactively from November 14

The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from November 14, the Swiss government said on Wednesday, delivering relief to businesses that had been saddled with the highest U.S. duties in Europe.



On November 14, the United States and Switzerland sealed a preliminary agreement under which Washington would cut the tariffs on Swiss goods, while Swiss companies pledged to invest $200 billion in the U.S. by the end of 2028.



The trade-weighted U.S. tariff burden on Swiss goods will now be some 10 percentage points lower than under the 39% rate at an estimated 7% to 9%, the Swiss government said.



Last month, the two sides agreed any additional U.S. tariffs on pharmaceutical products, which account for much of Swiss exports, would not exceed 15% under so-called section 232 investigations that probe possible threats to national security.