Switzerland has a tariff deal! Since April, Switzerland has been grappling with the US tariffs unilaterally imposed by Donald Trump. The Federal Council, in particular, faced criticism during previous attempts to resolve the problem – some even calling it a gross failure on the part of the government.

Following a failed telephone call between Federal President Karin Keller-Sutter and Donald Trump in August, tariffs were raised to 39 percent.

This was followed by a period of closed-door talks. Only last week did the matter gain new momentum: high-ranking representatives of Swiss business visited Donald Trump at the White House and presented him with, among other things, a gold bar.

This Friday morning, Economics Minister Guy Parmelin and State Secretary Helene Budliger Artieda returned from a short visit to the USA: On Thursday evening, the SVP Federal Councillor announced there, after talks with US Trade Representative Jamieson Greer, that practically everything had been clarified.

15 percent and investments amounting to 200 billion 

On Friday afternoon, Greer himself told Bloomberg that Switzerland and the US had essentially reached a tariff deal. The current tariff rate is expected to drop from 39 percent to 15 percent. Furthermore, Switzerland has pledged to invest $200 billion in the US. The White House plans to publish these details on its website on Friday.

On CNBC, Greer added that Switzerland had promised to build pharmaceutical production facilities and gold smelters in the US. He specifically mentioned the Basel-based pharmaceutical giant Roche, which had already broken ground on a US plant. The production of railway equipment was also part of the deal, Greer continued in the interview.

Shortly after 3 p.m., the Federal Council confirmed on Twitter that a deal had been reached and tariffs would be reduced to 15 percent. Later in the afternoon, Economics Minister Parmelin and State Secretary Budliger Artieda will provide further details – 20 Minuten will be reporting live.