Switzerland Wins 15% US Tariff Cut
In an official statement, the Swiss government said that the tariff agreement will reduce Swiss import duties on US industrial products, fish and seafood and agricultural products. According to the deal, the US would impose only a 15 per cent tariff ceiling for Swiss pharmaceutical producers and semiconductors. Apart from this, Switzerland would grant the US duty-free bilateral tariff quotas on 500 tons of beef. Also, 1,000 tons of bison meat and 1,500 tons of poultry meat would be duty-free for the US.
