Switzerland has announced a $200 billion investment plan in the US through 2028, coinciding with a breakthrough agreement that will sharply cut US tariffs on most Swiss goods. The deal lowers duties from 39% – the highest imposed on any Western economy – to 15%, aligning Swiss exporters with the tariff regime applied to the European Union, AP reported.Economy Minister Guy Parmelin said in Bern that the agreement was made possible by “new momentum generated by the commitment of the American president” and is expected to take effect in the coming weeks. The White House confirmed the development and said companies from Switzerland and Liechtenstein would account for $67 billion of the planned investment in 2026.A White House fact sheet said the proposed investments would create “thousands of well-paying American jobs across all 50 states” in sectors including pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, gold refining and energy infrastructure.The US, which ran a goods trade deficit of more than $38 billion with Switzerland last year, said the agreement “will put us on a path to eliminate that deficit by 2028.” US Trade Representative Jamieson Greer told CNBC that Switzerland would shift some manufacturing of pharmaceuticals, gold smelting and railway equipment to the United States.The tariff rollback follows months of tension after Washington first raised duties on Swiss products to 31% in April as part of its “Liberation Day” tariff actions and then to 39% on July 31. The spike prompted a sustained diplomatic and corporate effort from Bern, which intensified over the past month.Switzerland, already among the largest foreign investors in the US, said the $200 billion plan would be driven by private-sector commitments coordinated under what Parmelin described as “Team Switzerland”. It is not yet clear how much of the investment is new; Roche had earlier announced a $50 billion US investment during the tariff escalation.Several categories of Swiss exports — including pharmaceuticals, chemicals, gold and semiconductor-related goods — had been exempted from the highest tariff slab, but other sectors such as industrial machinery, watches, coffee and cheese remained affected. Parmelin said some tariffs deemed “important”, including in aviation, would be suspended under the new deal, while Switzerland would continue negotiations to ease duties in remaining sectors.The agreement follows an intensive diplomatic campaign, with delegations to Washington led by Swiss President Karin Keller-Sutter and Parmelin. Last week, senior executives from Rolex, gold refiner MKS Pamp and luxury group Richemont met President Donald Trump at the Oval Office to press Bern’s case.
