Switzerland

The other direction

What America sells to Switzerland

$73.7B in 2025 — a trade rupture cuts both ways, for American producers as well as American prices.

Policy in motion

Tariff status: a moving target

U.S. tariff policy toward Switzerland has changed 5 times since 2025. This page tracks it.

1. 2026-02-24

   IEEPA reciprocal tariffs terminated — replaced by 10% Section 122

   In effect

   Executive Order 14389 (Ending Certain Tariff Actions) terminated the IEEPA tariff duties effective February 24, 2026, replacing the reciprocal regime — including Switzerland's 15% rate — with a 10% Section 122 temporary import surcharge under Proclamation 11012 (capped at 150 days).

   91 FR 9437 →

2. 2025-11-14

   U.S.-Switzerland-Liechtenstein framework cuts rate to 15%

   Agreement

   A framework agreement reduced the reciprocal rate to the higher of MFN or a 15% all-in rate (down from 39%), and newly exempted certain agricultural goods, non-patented pharmaceuticals, civil aircraft, and unavailable natural resources. The modified rates applied from November 14, 2025, subject to negotiating a full agreement by March 31, 2026.

   Source ↗

3. 2025-08-07

   Reciprocal rate raised to 39% — among the steepest imposed

   In effect

   Executive Order 14326 set the post-pause Annex I reciprocal rates; Switzerland was assigned 39% — one of the highest rates applied to any developed economy and well above the 31% originally set — a significant shock to its export sector.

   90 FR 37963 →

4. 2025-04-10

   Elevated reciprocal rates paused to 10% for 90 days

   In effect

   Executive Order 14266 suspended the higher country-specific reciprocal rates — including Switzerland's 31% — back to the 10% baseline for 90 days to allow negotiations.

   90 FR 15625 →

5. 2025-04-05

   Reciprocal tariff regime begins — Switzerland assigned 31%

   In effect

   Executive Order 14257 imposed a 10% universal reciprocal duty effective April 5 and a higher country-specific rate of 31% for Switzerland scheduled to take effect April 9 under Annex I.

   90 FR 15041 →

Reference

The country itself

Europe · Geography, people, economy, and government — public-domain data from the CIA World Factbook.

The Swiss Confederation was founded in 1291 as a defensive alliance among three cantons. In succeeding years, other localities joined the original three. The Swiss Confederation secured its independence from the Holy Roman Empire in 1499. A constitution of 1848, which was modified in 1874 to allow voters to introduce referenda on proposed laws, replaced the confederation with a centralized federal government. The major European powers have long honored Switzerland's sovereignty and neutrality, and the country was not involved in either World War. The political and economic integration of Europe over the past half-century, as well as Switzerland's role in many UN and international organizations, has strengthened Switzerland's ties with its neighbors. However, the country did not officially become a UN member until 2002. Switzerland remains active in many UN and international organizations but retains a strong commitment to neutrality.