Switzerland cuts deal with Trump to lower tariffs to 15% from 39% baseline

U.S. Trade Representative Jamieson Greer announced Nov. 14 that Switzerland agreed to reduce its tariff rate to 15%, down from a baseline of 39%. Switzerland failed to reach a deal during the initial 90-day window but finalized terms to bring pharmaceutical manufacturing, gold smelting, and railway equipment production to the U.S. The deal follows similar agreements with Argentina, Guatemala, El Salvador, and Ecuador.