Switzerland plans further steps to underpin commitments made in a preliminary U.S. tariff deal last year, including streamlining recognition of American standards for cars and medical devices, the government said late on Monday.
As it seeks to formalise a trade agreement with Washington, Switzerland’s governing Federal Council said the measures also included facilitating recognition for U.S. conformity assessment bodies and government procurement.
“This announcement further contributes to the stabilisation of bilateral economic relations between Switzerland and the United States and gives Swiss exporters greater planning certainty,” it said in a statement.
The Federal Council said it would execute the planned measures through regulatory amendments, and that it expected the United States to honour its side of the initial agreement on tariffs the two reached in November last year.
The government made the announcement as Swiss President Guy Parmelin began a visit to the United States, Canada and Mexico lasting until July 9. Parmelin, who is also economy minister, is due to meet U.S. Trade Representative Jamieson Greer this week.
Switzerland last summer was subject to the highest U.S. tariffs in Europe when President Donald Trump set a 39% duty on products imported from the country. The November deal cut the tariffs to 15%, mirroring the rate for the European Union.
Talks to formalise the accord are ongoing. That so far looks unlikely to occur during Parmelin’s current trip, according to a Swiss source familiar with the matter.
A universal 10% U.S. tariff set by the Trump administration in February, after the U.S. Supreme Court declared some earlier tariffs illegal, expires on July 24. Many analysts believe that could be replaced with higher levies.
(Reporting by Dave Graham)
