The 10% tariffs announced by Donald Trump on Saturday are currently in effect, Swiss Economics Minister Guy Parmelin stated Wednesday, clarifying confusion among businesses following a U.S. Supreme Court decision invalidating previously imposed duties. The new tariffs replace existing ones for a period of 150 days and do not represent an additional layer of taxation, Parmelin explained during a press conference.
The clarification comes after the Supreme Court struck down tariffs imposed on a wider range of goods, prompting the Trump administration to implement the new 10% levy. The European Parliament responded by suspending the ratification process for a trade agreement between Brussels and Washington. The Swiss Federal Council, however, has not yet taken any similar action.
“Negotiations are ongoing,” Parmelin said, adding that an initial round of technical discussions between Swiss and U.S. Representatives took place in Switzerland recently. Further technical talks, and potentially meetings with chief negotiators, are planned in the coming weeks.
Switzerland is currently negotiating an agreement with the United States to secure the 15% tariff rate that has been in place since November. This followed an initial attempt by Trump to impose 39% duties on Swiss goods. According to reports, some Swiss companies have sought reimbursement for taxes already paid, while others are uncertain about the currently applicable tariff rates.
The Federal Council approved a negotiating mandate in May 2025 to address the U.S. Tariffs, seeking to strengthen economic ties with the United States. The initial tariffs, implemented in April 2025, affected a broad range of Swiss exports, with exemptions for key sectors like pharmaceuticals, certain chemicals, and precious metals. Those initial tariffs were suspended for 90 days, a period the Federal Council hoped to use to reach a more permanent solution.
The concessions being considered by the Swiss government include a commitment from Swiss companies to invest at least $200 billion in the United States over the next five years, with approximately $67 billion earmarked for investment by the conclude of 2026. In exchange, the U.S. Administration is expected to lower most tariffs to a maximum of 15%. However, some products, like the Swiss cheese Sbrinz, will witness a reduction to 19% rather than the proposed 15%.
Certain Swiss industries, including aircraft manufacturer Pilatus and generic pharmaceutical companies, are expected to benefit from exemptions from the additional tariffs. Additional concessions under discussion include duty-free access for U.S. Industrial goods, seafood, and certain agricultural products, as well as quotas for U.S. Exports of 500 tonnes of beef, 1,500 tonnes of poultry, and 1,000 tonnes of bison to Switzerland.
