Switzerland Announces 15% Tariff Deal with the United States

Nov. 14, 2025
By: Ashley J. Bodden

On November 14, 2025, Switzerland announced it has signed a non-binding memorandum of understanding with the United States, on the basis that the U.S. will reduce the country-specific reciprocal tariff to 15%.

The declaration of intent comes after the negotiating mandate that was adopted on May 28 this year, and the offer was approved by the Federal Council on August 4^th. In Switzerland’s effort to reduce U.S. tariffs, Switzerland will reduce import duties on a range of U.S. products, which include all industrial products, fish and seafood, and agricultural products from the U.S. that Switzerland considers non-sensitive. In addition, Switzerland will grant the U.S. duty-free bilateral tariff quotas on selected U.S. export products: 500 tonnes for beef, 1,000 tonnes for bison meat and 1,500 tonnes for poultry meat. Furthermore, Swiss companies are gearing up to make direct investments in the U.S., amounting to $200 billion by the end of 2028.

As the deal has not yet been finalized, the implementation date for these market concessions have yet to be announced by the U.S. or Swiss officials. We will continue to monitor and update when a finalized deal is released. If you have any questions surrounding the implications of the deal with Switzerland, please contact any attorney at Barnes Richardson and Colburn.