U.S. and Switzerland reach trade deal to lower tariffs to 15%

The U.S. and Switzerland have reached a trade deal, U.S. Trade Representative Jamieson Greer told CNBC on Friday.

Duties will be reduced to 15%, the Swiss government said in a post on X, adding that further details will be announced at 4 p.m. local time.

“We’ve essentially reached a deal with Switzerland,” Greer told CNBC’s “Squawk Box” on Friday morning.

“They’re going to send a lot of manufacturing here to the United States — pharmaceuticals, gold smelting, railway equipment — so we’re really excited about that deal and what it means for American manufacturing.”

Greer added that more details on the deal, which he said had “really been in the works since April,” would later be published on the White House website.