NOS News•
After months of negotiations, Switzerland and the United States have reached an agreement on import duties on Swiss products. They go from 39 to 15 percent.
Swiss companies have also pledged to invest a total of $200 billion in the US over the next three years. Switzerland will also buy American Boeing aircraft.
Switzerland is cutting tariffs on a range of US goods, such as industrial and agricultural products. The countries have also agreed that America can export some products duty-free, such as 500 tons of beef and 1,500 tons of poultry meat.
In line with the rest of Europe
The US imposed a 39 percent import tax on Switzerland, claiming to correct the trade deficit with the Swiss.
Key Swiss industries were hit by the tariffs, such as the watch, machinery and precision instrument sectors. The declaration of intent brings the rate more in line with other European countries.
The effective date for the new import duties has yet to be determined.
