Switzerland and the U. S. Are Close to a Trade Deal

Switzerland is ready to roll out lower tariffs on its exports to the U. S. The Swiss Economy Minister, Guy Parmelin, shared this in a recent interview. He hopes the U. S. will be ready by early December. The U. S. had previously imposed a high tariff of 39% on Swiss imports. But now, both countries have agreed to cut this rate to 15%. The Swiss government expects it to take about 10 to 12 working days for the new tariff rate to be implemented. However, the exact date is still unclear. This agreement comes after months of tension, following the U. S. president's decision to impose the high tariff. Parmelin mentioned that detailed discussions are set to begin soon. He also hinted that Switzerland might ask for more exemptions. This means certain Swiss products could be exempt from the 15% tariff. Parmelin believes there's room to negotiate further. The U. S. has been known for its strict trade policies. This deal could be a step towards better trade relations between the two countries. It's important to note that trade agreements can have a big impact on the economy.