An outline agreement Washington and Bern announced in November would reduce average US levies on Swiss industrial exports from 39% to 15%.
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The Swiss government approved the draft negotiating mandate for a trade agreement with the United States on Friday. It will now consult the relevant parliamentary committees and the cantons.
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The basis for the negotiating mandate is the legally non-binding declaration of intent between Switzerland and the US dated November 14. According to the text, the current additional tariffs of 39% are to be replaced by a flat rate of 15%.
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The points set out in the memorandum of understanding are now to be realised. This applies, among other things, to tariff concessions on goods from the US – although the US must also be prepared to make concessions. On the Swiss side, additional tariff concessions must be compatible with agricultural policy.
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As before, Switzerland does not want to levy customs duties on electronic transmissions. According to the press release on Friday, the Federal Council confirms that it will continue to refrain from introducing a digital services tax. Swiss companies want to invest at least $200 billion in the US within five years.
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Adapted from German by AI/sb
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