Fact Sheets

# Fact Sheet: The United States, Switzerland, and Liechtenstein Reach a Historic Trade Deal

The White House
November 14, 2025

LOWERING AMERICA’S TRADE DEFICIT AND WELCOMING HUGE INVESTMENT COMMITMENTS: Today, President Donald J. Trump announced a Framework for a historic trade deal with the Swiss Confederation (Switzerland) and the Principality of Liechtenstein (Liechtenstein) that will provide U.S. exporters unprecedented access to Swiss and Liechtenstein markets and drive billions of dollars in investment on U.S. soil, creating thousands of jobs across America.

- The Agreement on Reciprocal, Fair, and Balanced Trade will remove barriers to U.S. exports to Switzerland and Liechtenstein, helping to secure U.S. national and economic security.
- This trade deal will lock in the largest expansion ever of U.S. exporter access to Swiss markets, creating new opportunities for U.S. manufacturers, farmers, ranchers, fishermen, and other producers.
- Under the President’s leadership, billions of dollars of investment by major Swiss companies such as Roche, Novartis, ABB, and Stadler have already been announced in connection with the Framework, with more on the way.
- Swiss and Liechtenstein companies will invest at least $200 billion into the United States, with at least $67 billion worth of investment occurring in 2026.
  - These investments will create thousands of well-paying American jobs across all 50 states in a number of sectors, such as pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, gold manufacturing, and energy infrastructure.
- Swiss and Liechtenstein enterprises have committed to investing in American workers through the use of Registered Apprenticeships and other training programs in key high-growth sectors.
- Switzerland has made commitments to balance its trade with the United States.
- As part of President Trump’s strategy to establish more balanced trade with Switzerland and Liechtenstein, the trading partners will pay a cumulative reciprocal tariff rate of no higher than 15%, the same treatment given to the European Union.

PROMOTING RECIPRCAL TRADE: The Framework breaks new ground in terms of securing global supply chains, boosting U.S. national and economic security, and increasing U.S. access to Swiss and Liechtenstein markets, particularly for America’s agricultural exporters of poultry, bison, and beef. The key terms of the Agreement between the United States, Switzerland, and Liechtenstein will include:

- Switzerland and Liechtenstein intend to remove a range of tariffs across agriculture and industrial sectors, including various fresh and dried nuts, fish and seafood, certain fruits, chemicals, and spirits such as whiskey and rum. In addition, Switzerland will establish tariff rate quotas for American poultry, beef, and bison.
- Switzerland and Liechtenstein intend to address a range of non-tariff barriers that, for decades, have prevented U.S. goods from entering their markets. They will work to make our trade more seamless by:
  - addressing restrictive measures on U.S. poultry and streamlining requirements for U.S. dairy products;
  - opening Swiss and Liechtenstein markets for U.S. medical devices;
  - streamlining customs processes to make it easier for U.S. goods to enter;
  - negotiating robust commitments related to intellectual property rights protection and enforcement, including transparent and fair treatment of geographical indications;
  - working to address forced labor in their supply chains and increasing cooperation on labor-related trade issues;
  - adopting and maintaining high-levels of environmental protections and discussing commitments related to other environmental measures;
  - enhancing cooperation on the identification and alignment of international standards to reduce barriers for U.S. exports; and
  - recognizing U.S. Federal Motor Vehicle Safety Standards.
- The United States, Switzerland, and Liechtenstein have committed to a robust set of digital trade principles, including refraining from harmful digital services taxes.
- The United States, Switzerland, and Liechtenstein intend to strengthen supply chain resilience by addressing non-market policies of third countries.
  - Switzerland and Liechtenstein intend to close loopholes that currently allow non-Government Procurement Agreement (GPA) and Free Trade Agreement (FTA) parties to access their procurement markets, in order to ensure greater reciprocal benefits for U.S. products and services.
  - Additionally, the Framework bolsters our shared national and economic security by expanding cooperation on export controls, sanctions, and investment screening.
- The United States, Switzerland, and Liechtenstein will work expeditiously to finalize the Agreement on Reciprocal, Fair, and Balanced Trade, with the aim of concluding negotiations in early 2026, in order to lock in these benefits and create a level playing field for American businesses and workers.
- The U.S. goods trade deficit with Switzerland and Liechtenstein was $38.5 billion in 2024, and this deal with Switzerland will put us on a path to eliminate that deficit by 2028.

LIBERATING AMERICA FROM UNFAIR TRADE PRACTICES: Since Day One, President Trump challenged the assumption that American workers and businesses must tolerate unfair trade practices that have disadvantaged them for decades and contributed to our historic trade deficit.

- On April 2, President Trump declared a national emergency in response to the unprecedented threat caused to the United States by the large and persistent trade deficit caused by a lack of reciprocity in our bilateral trade relationships, disparate tariff rates and non-tariff barriers, and U.S. trading partners’ economic policies that suppress domestic wages and consumption.

- President Trump continues to advance the interests of the American people and our agricultural sector by removing tariff and non-tariff barriers and expanding market access for American exporters.
- Today’s announcement provides a tangible path forward with Switzerland that underscores the President’s dedication to bringing balanced, reciprocal trade with an important trading partner.

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