Lower U.S. tariff on Swiss products is a 'true relief', head of Geneva Chamber of Commerce says

Record ID: 2277581

  • Title: Lower U.S. tariff on Swiss products is a 'true relief', head of Geneva Chamber of Commerce says
  • Date: 14th November 2025
  • Summary: GENEVA, SWITZERLAND (NOVEMBER 14, 2025) (REUTERS) (SOUNDBITE) (English) DIRECTOR GENERAL OF THE GENEVA CHAMBER OF COMMERCE, INDUSTRY AND SERVICES, VINCENT SUBILIA, SAYING: “Whatever a tariff is, even 1% is 1% too much, that's for sure. But in the current circumstances and in light of the tariffs that have been imposed to our first trading partner, i.e. the EU, I believe th
  • Embargoed:
  • Keywords: EU Switzerland USA markets tariffs trade
  • Location: GENEVA, YVERDON-LES-BAINS, UTZENSTORF AND IBACH, SWITZERLAND
  • City: GENEVA, YVERDON-LES-BAINS, UTZENSTORF AND IBACH, SWITZERLAND
  • Country: Switzerland
  • Topics: Europe,Government/Politics,International Trade
  • Reuters ID: LVA002213614112025RP1
  • Aspect Ratio: 16:9
  • Story Text: The announcement that the United States will slash its tariffs on goods from Switzerland to 15% from a crippling 39% is “a true relief for the Swiss and Geneva economy” and “a step in the right direction,” the head of the Geneva Chamber of Commerce (CCIG) said on Friday (November 14). 
    U.S. President Donald Trump's decision in August to impose the duties on Switzerland stunned the country, which eliminated its own industrial tariffs last year. Trump argued the tariffs were justified by the U.S. trade deficit with Switzerland.
    “That was a very serious threat on the prosperity of Geneva and Switzerland. So today is a day not of celebration, but of humble and modest relief and a step in the right direction,” director general of the CCIG, Vincent Subilia told Reuters. 
    The new framework trade agreement includes a pledge by Swiss companies to invest $200 billion into the U.S. by the end of 2028, the Swiss government said on Friday.
    Switzerland will grant the U.S. duty-free bilateral tariff quotas on 500 tons of beef, 1,000 tons of bison meat and 1,500 tons of poultry meat, the government said.
    Subilia said the 15% tariffs were “reasonable at this stage” as it brought Switzerland in line with the European Union.
    “While it is not perfect because we would have hoped for 0%, but still, is certainly a step in the right direction and it will help preserve jobs and tax revenues to the benefit of Switzerland,” he added. 
    Swiss industry on Friday reported a 14% fall in exports to the U.S. during the three months through September, technology industry association Swissmem said, while machine tool makers saw shipments slump 43%.
    (Production: Cecile Mantovani)
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