US, Switzerland Reached Deal Lowering Tariff to 15%, Greer Says
The US and Switzerland have “essentially” reached a trade agreement to lower tariffs on Swiss goods to 15% and the White House plans to reveal details on Friday, US Trade Representative Jamieson Greer said.
“Switzerland is probably the next one,” Greer said on CNBC, one day after meeting with a Swiss delegation in Washington. “We’ve essentially reached a deal with Switzerland. So we’ll post details of that today on the White House website.”
Greer told reporters that the duty on products from Switzerland would fall from 39% to 15% and that the European country has committed to investing $200 billion in the US.
Greer said that Switzerland is “going to send a lot of manufacturing here to the United States, pharmaceuticals, gold smelting, railway equipment. So we’re really excited about that deal and what it means for American manufacturing.”
Switzerland has also committed to buying more Boeing Co. planes, Greer told reporters.
Source : Bloomberg.com
