US, Switzerland, and Liechtenstein Finalize Historic Trade Deal: White House
The United States, Switzerland, and Liechtenstein have reached a significant milestone in trade relations. President Donald J. Trump recently unveiled a Framework for a historic trade deal that aims to enhance market access for U.S. exporters. This initiative promises to drive substantial investments in the U.S. economy, creating thousands of jobs nationwide.
Details of the Trade Agreement
The Agreement on Reciprocal, Fair, and Balanced Trade is designed to eliminate barriers to U.S. exports. By ensuring that American companies have greater access to Swiss and Liechtenstein markets, the deal is set to secure both national and economic security for the U.S.
Key Investments and Economic Impact
- Swiss companies, including Roche and Novartis, have pledged to invest at least $200 billion in the United States.
- Of this total, around $67 billion is expected to occur by 2026.
- Investments will create jobs across multiple sectors, including pharmaceuticals and aerospace.
Boosting Agricultural Exports
The trade deal also prioritizes U.S. agricultural exporters. It aims to remove tariffs on several products, enhancing trade for items such as poultry, bison, and beef.
Removing Barriers to Trade
- Switzerland and Liechtenstein plan to eliminate tariffs on various nuts, seafood, and certain fruits.
- Tariff rate quotas will be established for American agricultural products.
- Negotiations will address longstanding non-tariff barriers hindering U.S. exports.
Strengthening Supply Chains and Market Access
The Framework introduces measures to enhance supply chain resilience. It includes commitments to ensure fair treatment for U.S. goods and services in the procurement markets of Switzerland and Liechtenstein.
Digital Trade and Cooperation Initiatives
The three nations have agreed on principles to foster digital trade while avoiding harmful taxes on digital services. They will also cooperate on issues related to labor and environmental standards.
Timeline for Implementation
Negotiations on the Agreement are expected to conclude by early 2026. The goal is to finalize the trade deal and create a more level playing field for American businesses.
Addressing the Trade Deficit
The U.S. goods trade deficit with Switzerland and Liechtenstein reached $38.5 billion in 2024. This agreement aims to significantly reduce that deficit by 2028, reflecting President Trump’s commitment to achieving a more balanced trade relationship.
This historic trade deal with Switzerland and Liechtenstein marks a crucial step toward removing unfair trade practices and bolstering the American economy.
