Business Recorder
ZURICH: Trade talks between Switzerland and the United States will continue beyond March following a preliminary accord on tariffs struck last year, Swiss President Guy Parmelin said. Switzerland was subject to the highest US tariffs in Europe when US President Donald Trump in August imposed a 39% duty on products imported from the country. In November, Bern sealed an initial deal to cut the tariffs to 15%. Switzerland later began talks to formalise that accord, which Washington was pressing to conclude by the end of March. In February, the US Supreme Court struck down Trump’s global tariffs, prompting him to order a fresh 10% global duty. In March, the US launched new investigations against major trading partners, including Switzerland, casting further uncertainty over how talks would proceed. Parmelin, who is also the Swiss economy minister, told state broadcaster RSI this weekend the March target was “de facto” no longer applicable and that negotiations would continue. The next round of Swiss-US trade talks is likely to take place in April, according to two people familiar with the matter.
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