Economy February 23, 2026

Switzerland Presses On With U.S. Talks to Lock in Tariff Cut as Legally Binding Deal

Bern seeks binding agreement to cement preliminary late-2025 pact that cut U.S. tariffs on Swiss goods to 15% from 39%

By Ajmal Hussain
Switzerland Presses On With U.S. Talks to Lock in Tariff Cut as Legally Binding Deal

The Swiss government said it will continue negotiations with the United States to achieve a legally binding deal that would finalize a preliminary late-2025 agreement reducing U.S. tariffs on Switzerland to 15% from 39%. The Economy Ministry emphasized its commitment to the mandate and noted that key stakeholders, including cantons, have not asked for a pause following a U.S. Supreme Court decision affecting the tariff measures. The ministry reiterated that securing legal certainty for Swiss companies remains its central objective.

Key Points

  • Switzerland wants a legally binding agreement to finalize a late-2025 preliminary deal that cut U.S. tariffs on Swiss goods from 39% to 15%. - Impacted sectors: Swiss exporters and companies engaged in U.S. trade.
  • The Swiss Economy Ministry affirmed its commitment to completing negotiations under its mandate and noted no requests from stakeholders, including cantons, to pause talks after a U.S. Supreme Court ruling. - Impacted sectors: trade policy and government relations.
  • The central negotiating objective is to secure legal certainty for Swiss companies through a binding agreement. - Impacted sectors: corporate legal and international trade operations.

Switzerland will persist in talks with Washington to convert a preliminary agreement reached in late 2025 - which lowered U.S. tariffs on Swiss products from 39% to 15% - into a legally enforceable pact, the Swiss Economy Ministry said on Monday.

The ministry reaffirmed that it remains faithful to the negotiating mandate set by the government. It highlighted that, despite a recent U.S. Supreme Court decision that struck down the tariffs introduced by President Donald Trump, stakeholders in Switzerland have not requested a halt to the bilateral discussions.

According to the Economy Ministry, the primary aim of the ongoing negotiations is to secure a legally binding arrangement that would offer Swiss companies the highest degree of legal certainty possible. The government said it is retaining that aim as the talks proceed.

Officials did not announce a timetable for concluding the binding agreement. They also did not provide further detail on specific legal terms under discussion. The statement focused squarely on the government’s intent to continue negotiations and on the absence of domestic demands to suspend the process in light of the U.S. court ruling.

The developments follow a preliminary deal dated late 2025 that reduced the U.S. tariff rate applied to Swiss goods to 15%, down from 39%. That preliminary measure remains the reference point for the current push to formalize commitments in a legally binding text.


Context and next steps

The Economy Ministry’s remarks underscore a continued diplomatic and legal effort to translate a negotiated tariff reduction into durable terms that would bind both parties. The government framed legal certainty for Swiss firms as the central justification for seeking a binding agreement.

How long negotiations will take, and whether the parties will reach the sought-after legally binding arrangement, remain open questions. The ministry’s statement did not indicate any change to its objectives following the U.S. Supreme Court decision.

Risks

  • Uncertainty over the outcome and duration of negotiations - a binding agreement has not yet been reached and timing is unspecified. - Affects: Swiss firms and trade relations.
  • Potential legal and policy disruptions following the U.S. Supreme Court decision that struck down the prior tariff measures - this development could influence the negotiating environment. - Affects: bilateral trade negotiations and regulatory certainty.

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