World Business Report US agrees to reduce Swiss tariff rates to 15%
Nov 14, 2025
Imogen Foulkes, a BBC correspondent in Geneva, discusses the recent US-Swiss trade deal that slashed tariffs on imports and the role of Swiss lobbying in this shift. Caroline Hustetler, owner of Quality Cheese Inc., shares insights on the immediate relief felt by cheesemakers who have struggled under previous tariffs. John Marsh, owner of St Killian's Cheese Shop, highlights retail impacts and pricing challenges. Meanwhile, Chris Lowe analyzes market reactions, and Maria Hollandhurst talks about innovative apps that help reduce screen time.
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Trade Deal Lowers Swiss Tariffs
- The US cut tariffs on Swiss goods from 39% to 15% in exchange for $200bn of Swiss investment and some manufacturing shifts to the US.
- Imogen Foulkes highlights pharmaceuticals and precision machine tools as the economically critical sectors behind the deal.
Health Trade Was The Sticking Point
- Pharmaceuticals and medical technology were central to resolving the tariff standoff due to US reliance on those imports.
- Imogen Foulkes notes the 39% tariff had already caused a 24% drop in Swiss sales to the US, harming patients' access to devices.
Cheese Producers Breathe Relief
- Caroline Hustetler describes widespread relief among Swiss cheese producers at returning to parity with EU tariffs.
- She says firms were heavily texting and calling each other after the announcement.