Key facts
- Switzerland will streamline recognition of U.S. standards for cars and medical devices.
- The move is part of efforts to formalize a trade agreement with the United States.
- The Swiss government expects reciprocal action from the U.S. on tariffs.
- Swiss President Guy Parmelin is visiting the U.S. to discuss bilateral economic relations.
- A preliminary deal last year reduced U.S. tariffs on Swiss products from 39% to 15%.
Switzerland is taking steps to recognize U.S. standards for cars and medical devices as it pursues a formal trade agreement with Washington. The Swiss government announced late Monday that these measures, which also include facilitating recognition for U.S. conformity assessment bodies and government procurement, aim to stabilize bilateral economic relations and provide Swiss exporters with greater planning certainty.
The Federal Council stated that these planned measures would be executed through regulatory amendments. Switzerland expects the United States to uphold its commitments from a preliminary tariff deal reached in November last year, which reduced tariffs on Swiss products from 39% to 15%, aligning them with rates for the European Union.
Swiss President Guy Parmelin, who also serves as economy minister, has begun a visit to the United States, Canada, and Mexico. During his trip, he is scheduled to meet with U.S. Trade Representative Jamieson Greer. Talks to formalize the broader trade accord are ongoing, though a Swiss source indicated that an agreement is unlikely during Parmelin's current visit.
Separately, a universal 10% U.S. tariff imposed by the Trump administration, which expires on July 24, could potentially be replaced by higher levies, according to analysts.