US official calls trade talks with Switzerland “very positive” as the country seeks to reduce 39% tariffs imposed by Trump administration.
ZURICH: A senior US official described trade talks with Switzerland as “very positive” as the Alpine nation seeks relief from steep tariffs imposed by President Donald Trump.
Swiss Economy Minister Guy Parmelin visited Washington hoping to reduce the 39% duties imposed on Swiss imports in August.
“The talks are very positive. They’re very focused,” a senior Trump administration official told reporters on Thursday.
The official indicated that a successful deal could lead to tariff reductions for Switzerland.
“If this deal is accepted by the president and the Swiss people, we would see a reduction in tariffs into Switzerland,” the US official said.
While Switzerland maintains generally low tariffs, the official noted some areas where levels remain high and expected “a meaningful reduction.”
Bloomberg News reported that Switzerland was close to an agreement on reducing tariffs to 15%, matching rates applied to EU goods.
The Swiss economy ministry confirmed Parmelin was in Washington “to continue discussions” but provided no further details.
This marks Parmelin’s third visit since Trump returned to the presidency and imposed the tariffs.
Switzerland has slashed its 2026 growth forecast as US tariffs impact its export-driven economy.
The high tariff rate jeopardises key Swiss export sectors including watchmaking, industrial machinery, chocolate and cheese.
Last week, heads of six major Swiss firms including Rolex and Richemont met with Trump to highlight the tariffs’ impact on their companies.
While medications remain exempt from tariffs currently, Trump regularly threatens to target pharmaceuticals, Switzerland’s largest export sector.
Swiss businesses also worry about competitors in the EU, Japan and Britain having lower tariff rates of 15%, 15% and 10% respectively. – AFP
