Trump Unveils $200 Billion Trade Deal With Switzerland And Liechtenstein To Cull $38.5 Billion US Goods Deficit By 2028

President Donald Trump announced a framework for a trade deal with Switzerland and Liechtenstein on Friday, aiming to eliminate the $38.5 billion goods trade deficit by 2028 and securing pledges for at least $200 billion in U.S. investment.

President Trump continues to score massive wins for the American people, securing a Framework for a historic deal with Switzerland and Liechtenstein.

This deal further demonstrates that @POTUS can maintain tariffs to lower the goods trade deficit while driving billions of… pic.twitter.com/a28QDrdX4X

— United States Trade Representative (@USTradeRep) November 14, 2025

The deal follows Trump’s imposition of 39% tariffs on Swiss imports in August.

Richemont Chairman Johann Rupert had expressed optimism on Thursday about resolving the tariff dispute, calling it a “misunderstanding.”

Major Investment Commitments Announced

Swiss pharmaceutical and industrial leaders, including Roche Holding AG, Novartis AG (NYSE:NVS), ABB Ltd. (NYSE:ABB), and Stadler, have pledged investments under the framework, with at least $67 billion expected in 2026.

The investments will create jobs across pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, and energy infrastructure sectors in all 50 states.

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Tariff Structure and Market Access

Switzerland and Liechtenstein will face a cumulative reciprocal tariff rate capped at 15%, matching European Union treatment. The trading partners intend to remove tariffs on nuts, fish, seafood, certain fruits, chemicals, and spirits, including whiskey and rum.

Switzerland also plans to impose tariff rate quotas on U.S. exports of bison, beef, and poultry.

Supply Chain and Digital Trade Provisions

The Framework also includes coordination on export controls, sanctions, and investment screening.

Partners have also agreed to digital trade principles that include refraining from imposing digital services taxes.

Switzerland has committed to balancing bilateral trade with the United States as part of negotiations that are expected to conclude in early 2026.

On Friday, iShares MSCI Switzerland ETF (NYSE:EWL) closed down 0.52% at $57.55, while Franklin FTSE Switzerland ETF (NYSE:FLSW) slipped 0.46% to $39.75.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.