Slashed US Tariff Rate on Switzerland to Take Effect Retroactively

11:54 AM EST, 12/10/2025 (MT Newswires) -- The US tariffs imposed on imports from Switzerland will be reduced to 15% from 39%, taking effect retroactively from Nov. 14, the Swiss Federal Council said Wednesday. The new tariff rate will be applied across the board, while pharmaceuticals, certain types of chemicals, gold and coffee will continue to be exempted from additional US duties. The US will also remove the general additional tariff on aircraft, certain aviation-related parts, rubber products, cosmetics and generic drugs from Switzerland as part of the agreement. In return, the Swiss government will cut its US tariff rates on certain fish and agricultural products, among other market access concessions.