Switzerland eyes deal to reduce 39% U.S. tariff on exports

Donald Trump says the U.S. is working on a deal with Switzerland to lower the 39% tariff on its exports, but no new rate has been finalised.

Transcript

00:00The United States is in talks with Switzerland to reduce a 39% tariff on Swiss exports.

00:07President Donald Trump confirms negotiations are ongoing, but no new rate has been finalized.

00:13The tariffs, among the highest introduced under Trump's global trade reset, were imposed in August.

00:19Trump acknowledged the high duties, but stressed that the US views Switzerland as a valued ally

00:25and wants the country to remain successful.

00:27The Swiss government declined to comment following reports of a potential deal

00:31could see tariffs on Swiss exports cut to 15%.

00:35According to Bloomberg, an agreement could be reached within two weeks,

00:39although discussions are still underway.

00:42The 39% tariffs have put pressure on Swiss exporters, affecting major sectors like watches,

00:48machine tools and chocolate, with the US being one of Switzerland's key markets.