In exchange, Swiss officials committed to series of quotas for imports from the US on a duty-free basis
Donald Trump agreed to cut US tariffs on Switzerland from 39% to 15% as part of a new trade pact, lowering duties that strained economic ties and hit Swiss exporters.
The two countries have signed a “non-binding memorandum of understanding”, the Swiss government announced, following bilateral talks in Washington and intense lobbying by Swiss firms.