Switzerland, Liechtenstein sign non-binding MoU with US

Switzerland has made commitments to balance its trade with the United States.

Switzerland will reduce import duties on a range of US products. In addition to all industrial products, fish and seafood, this includes agricultural products from the United States that Switzerland considers non-sensitive, an official Swiss government release said.

For other US export interests, a solution was agreed that takes Switzerland's agricultural policy interests into account. Under the agreement, Switzerland will grant duty-free bilateral tariff quotas on selected US export products.

The date for implementing these market access concessions will be coordinated with the US to ensure that customs duties are reduced at the same time.

Furthermore, Swiss companies are planning to make direct investments in the United States amounting to $200 billion by the end of 2028, with at least $67 billion worth of investment occurring in 2026.

The deal will provide US exporters unprecedented access to Swiss and Liechtenstein markets and drive billions of dollars in investment on US soil, creating thousands of jobs across America, a White House fact sheet said.

Both sides will streamline customs processes to make it easier for US goods to enter, work to address forced labour in their supply chains and increasing cooperation on labour-related trade issues. They have committed to a robust set of digital trade principles, including refraining from harmful digital services taxes.

ALCHEMPro News Desk (DS)