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U.S.-Switzerland Near Trade Deal to Slash Tariff Rate by Over 50%
U.S.-Switzerland Near Trade Deal to Slash Tariff Rate by Over 50%
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BTCCSquare news:
President Trump's 39% tariff on Switzerland, imposed in August, may be reduced to 15% as part of a forthcoming trade deal. Negotiations, accelerated after Swiss business leaders met with Trump, could conclude within two weeks. The MOVE comes as Switzerland faces economic challenges, including a four-year high in unemployment.
Swiss exports, particularly in Gold and jewelry, totaled $33 billion in 2024, while the U.S. trade deficit with Switzerland surged 56.1% year-over-year to $38.3 billion. Key figures like Rolex CEO Jean-Frederic Dufour and Richemont Chairman Johann Rupert are central to the discussions.
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