Switzerland maintains mandate for US trade negotiations, says minister

Friday 13 March 2026 - 15:00

Switzerland is reaffirming its commitment to ongoing trade negotiations with the United States, aiming to formalize a deal on tariffs initially agreed last year, Economy Minister Guy Parmelin said on Friday.

Speaking from Zurich, Parmelin highlighted that Switzerland will continue discussions with the United States and consult with other affected trading partners following Washington’s announcement of trade investigations. These probes focus on excess industrial capacity in 16 major trading partners, including Switzerland, as well as allegations of forced labor.

The minister emphasized that Switzerland is sticking to its current mandate and will move forward cautiously to protect its economic interests. Last August, the United States imposed a 39% tariff on Swiss imports, the highest in Europe at the time. In November, an initial agreement reduced the tariffs to 15%, aligning them with rates applied to the European Union.

Negotiations to formalize this agreement are ongoing, with Washington reportedly seeking completion by the end of March. Parmelin stressed that discussions are continuing in a constructive manner and reaffirmed Switzerland’s intent to maintain its mandate while safeguarding trade relations.

Switzerland’s careful approach reflects the balancing act between upholding national economic priorities and cooperating with major trading partners. Observers note that the outcome of these talks will have implications not only for Swiss exports but also for broader European trade relations.