REDUCING AMERICA’S TRADE DEFICIT AND EMBRACING SIGNIFICANT INVESTMENT OPPORTUNITIES: Today, President Donald J. Trump unveiled a groundbreaking trade agreement framework with the Swiss Confederation (Switzerland) and the Principality of Liechtenstein (Liechtenstein). This deal promises U.S. exporters exceptional access to Swiss and Liechtenstein markets, which is expected to funnel billions of dollars into the U.S. economy and generate thousands of jobs across the nation.
- The Agreement on Reciprocal, Fair, and Balanced Trade is set to dismantle barriers hindering U.S. exports to Switzerland and Liechtenstein, thereby enhancing America’s economic and national security.
- This landmark trade deal will mark the most extensive expansion of U.S. market access to Switzerland ever, unlocking fresh opportunities for American manufacturers, farmers, ranchers, fishermen, and various producers.
- Thanks to the President’s initiatives, major Swiss firms like Roche, Novartis, ABB, and Stadler have committed to investing billions in the U.S. as part of this Framework, with more investments anticipated.
- In total, Swiss and Liechtenstein companies are set to invest at least $200 billion in the United States, with a minimum of $67 billion earmarked for 2026 alone.
- This influx of investment will generate thousands of lucrative jobs across all 50 states in sectors ranging from pharmaceuticals and machinery to medical devices, aerospace, construction, advanced manufacturing, gold production, and energy infrastructure.
- In a nod to workforce development, Swiss and Liechtenstein businesses have pledged to invest in American labor through Registered Apprenticeships and other training programs in key growth areas.
- Switzerland has also made commitments to achieve a balanced trade relationship with the United States.
- Under this agreement, the trading partners will adhere to a cumulative reciprocal tariff rate capped at 15%, aligning their treatment of U.S. goods with that of the European Union.
FOSTERING RECIPROCAL TRADE: This Framework breaks new ground in establishing secure global supply chains, fortifying U.S. national and economic security, and enhancing access to Swiss and Liechtenstein markets, especially for U.S. agricultural exports such as poultry, bison, and beef. Key provisions of the Agreement between the U.S., Switzerland, and Liechtenstein include:
- Switzerland and Liechtenstein aim to eliminate various tariffs across agricultural and industrial sectors, covering a wide array of products including fresh and dried nuts, seafood, certain fruits, chemicals, and spirits like whiskey and rum. Moreover, Switzerland will introduce tariff rate quotas for American poultry, beef, and bison.
- These nations are committed to addressing long-standing non-tariff barriers that have historically restricted U.S. goods from entering their markets. They will work to streamline trade by:
- Alleviating restrictions on U.S. poultry and simplifying requirements for U.S. dairy products;
- Opening their markets to American medical devices;
- Simplifying customs processes to ease the entry of U.S. goods;
- Negotiating strong commitments regarding intellectual property rights protection and enforcement, ensuring fair treatment of geographical indications;
- Tackling forced labor in supply chains and enhancing cooperation on labor-related trade issues;
- Maintaining high environmental protection standards and discussing commitments regarding other ecological measures;
- Boosting collaboration on identifying and aligning international standards to reduce barriers for U.S. exports; and
- Recognizing U.S. Federal Motor Vehicle Safety Standards.
- The United States, Switzerland, and Liechtenstein have committed to a robust framework of digital trade principles, which includes a pledge to avoid harmful digital services taxes.
- Additionally, these nations plan to bolster supply chain resilience by addressing the non-market policies of third countries.
- Switzerland and Liechtenstein will work to close loopholes that allow non-Government Procurement Agreement (GPA) and Free Trade Agreement (FTA) parties to access their procurement markets, ensuring greater reciprocal benefits for U.S. products and services.
- This Framework enhances our collective national and economic security by fostering cooperation on export controls, sanctions, and investment screening.
- The United States, Switzerland, and Liechtenstein are committed to expediting the finalization of the Agreement on Reciprocal, Fair, and Balanced Trade, aiming to complete negotiations by early 2026 to secure these benefits and establish a level playing field for American businesses and workers.
- In 2024, the U.S. goods trade deficit with Switzerland and Liechtenstein stood at $38.5 billion, and this agreement aims to eliminate that deficit by 2028.
FREEING AMERICA FROM UNFAIR TRADE PRACTICES: Since his first day in office, President Trump has taken on the entrenched belief that American workers and businesses must endure unfair trade practices that have historically undermined their interests and contributed to a staggering trade deficit.
- On April 2, President Trump declared a national emergency in response to the unprecedented threat posed by a large and persistent trade deficit, which has been exacerbated by unequal trade relationships, varying tariff rates, non-tariff barriers, and economic policies from trading partners that suppress domestic wages and consumption.
- President Trump continues to advocate for the American populace and the agricultural sector by dismantling tariff and non-tariff barriers and expanding market access for American exporters.
- Today’s announcement provides a clear pathway forward with Switzerland, highlighting the President’s commitment to achieving balanced, reciprocal trade with this vital trading partner.
