SKN | Breakthrough in U.S.–Switzerland Tariff Dispute Appears Near

Talks Signal Possible Reduction in Punitive Tariffs

Negotiations between Switzerland and the United States over high import tariffs on Swiss goods may be nearing a breakthrough, according to a report from Bloomberg citing insider sources. The two nations are reportedly discussing the possibility of lowering tariffs to 15 percent, aligning them with the rate applied to European Union imports.

While no final agreement has yet been reached, sources suggest that a deal could materialize within the next two weeks. However, Swiss officials remain cautious. The Federal Department of Economic Affairs, Education and Research (WBF) declined to comment on the progress of the talks, emphasizing that discussions are still ongoing and could falter before completion.

Background: 39% Tariffs Hit Swiss Industry

The potential breakthrough follows months of tension after the U.S. imposed punitive tariffs of 39 percent on several Swiss products in August, a move that dealt a heavy blow to the country’s manufacturing and watchmaking sectors.

The tariffs were introduced shortly after a meeting between U.S. President Donald Trump and Federal Councillor Karin Keller-Sutter in July, which reportedly led to diplomatic friction. Switzerland’s luxury goods manufacturers, including leading watchmakers, have been among the most affected, facing steeper export costs and pressure on margins.

Industry analysts warned that the prolonged dispute risked undermining one of Europe’s most stable trade relationships, given Switzerland’s strong record as a U.S. trading partner and ally.

Business Diplomacy in the Oval Office

Momentum toward resolution appears to have shifted following a high-level meeting of Swiss business leaders with President Trump in the Oval Office last Tuesday. Among the delegation were Rolex CEO Jean-Frédéric Dufour and Partners Group founder Alfred Gantner, both representing major pillars of Switzerland’s export economy.

According to reports, the tone of the discussion was markedly more positive than in previous exchanges. Trump reportedly expressed willingness to reconsider the tariffs, signaling a friendlier posture toward Swiss trade interests.

At a press conference following the meeting, Trump told reporters, “We are working on a deal to lower their tariffs somewhat. We hit Switzerland very hard. We want Switzerland to continue to be successful.” When pressed about the 15 percent target, he added, “I didn’t mention any numbers, but we will work on a solution to help Switzerland.”

The U.S. president also highlighted Switzerland’s long-standing role as a “good ally” in trade and diplomacy.

Economic and Political Implications

If successful, the tariff reduction would ease pressure on Swiss exporters and help stabilize bilateral trade flows, particularly in the luxury goods and industrial manufacturing sectors. Economists note that aligning Switzerland’s tariffs with EU levels could also prevent supply chain distortions and restore competitiveness for Swiss firms in the U.S. market.

The development could further signal a broader thaw in U.S.–Europe trade relations as Washington reassesses tariffs under renewed global trade negotiations.

Closing Insight

A successful compromise on tariffs would mark a diplomatic win for both nations — easing strain on Switzerland’s export industries while giving the U.S. a renewed image of cooperation in trade policy. For now, optimism remains cautious, but the tone from both sides suggests a deal may finally be within reach.

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