Switzerland Moves Close to Securing Reduced 15% Tariff Deal

Switzerland is close to securing a 15% tariff on its exports to the U.S., in what would be a relief for the country after it was hit with a punishing 39% levy in August, according to people familiar with the matter, Jenny McCall reported for Yahoo Finance.

Switzerland warned that nothing is finalized and that the talks could still collapse, as happened during discussions between U.S. and Swiss trade negotiators in late July. (Photo: Port of Switzerland) 

A deal may be concluded within the next two weeks, said the people, who declined to be identified discussing ongoing negotiations.

They also warned that nothing is finalized and that the talks could still collapse, as happened during discussions between U.S. and Swiss trade negotiators in late July, Bloomberg News also reported.

U.S. President Donald Trump later confirmed his administration was “working on a deal to get their tariffs a little bit lower.”

The news came following a visit by Swiss executives to Trump at the Oval Office, with the visitors allegedly gifting him a special gold bar bearing his signature, along with a gold Rolex clock, as shown in photographs.