US tariff cut to 15% for Switzerland could take effect early December, says economy minister

GENEVA: The United States’ general tariff of 39% on imports from Switzerland could be cut to 15% from early December, Swiss Economy Minister Guy Parmelin told the broadcaster SRF in an interview aired on Saturday.

“In Switzerland, we are ready. It takes a bit more time for the USA. I hope everything is fine by early December, but we are pushing,” Guy Parmelin told SRF.

Parmelin had told Tuesday’s edition of the Aargauer Zeitung newspaper that the government expected it to take 10 to 12 working days for the lower tariffs to enter the system, but declined to give a precise date.

Switzerland wins tariff rate cut to 15% in US trade deal

On November 14, Switzerland and the U.S. reached a preliminary agreement to cut the tariffs to 15%, more than three months after U.S. President Donald Trump imposed a 39% rate, the highest on any country in Europe.

Parmelin told SRF that detailed discussions were due to start soon, following the preliminary agreement. He said there may be an opportunity for Switzerland to ask for more exemptions beyond those it has already secured from the proposed general tariff rate of 15%.

“One must not forget, we can also ask for some things … We can also say we want more exceptions in this area. We think that what we have given can still be lowered,” he said.