Trade Agreements Between Us And Switzerland

An updated overview of the Swiss free trade agreements network can be found in the section. More than 10% of Swiss nationals living abroad live in the United States. About 460,000 Swiss emigrated to the United States between 1700 and 2018. At the end of 2019, 81,106 Swiss nationals were registered in the country. The manufacture of products in the Country of Origin in Switzerland should not be subject to the use of primary materials that do not meet the criteria of the country of origin which are subject to restitution or suspension of customs duties (for example. B, goods imported and re-exported to the processing facility). This rule does not apply to agreements with Singapore, South Korea, SACU, Canada, Japan, Colombia and Peru. In 2018, Switzerland was the seventh largest foreign investor in the United States, with $286 billion in investments. Trade between the two countries has been very dynamic in recent years. In 2019, Switzerland imported about CHF 18.7 billion in goods and exported 43.6 billion francs to the United States. Content of agreements The essential element of each agreement is trade in goods (including tariff reductions and other trade restrictions). They regulate trade in industrial products (SH chapters 25-97), fish and processed agricultural products.

Trade in unprocessed agricultural products is generally governed by separate bilateral agricultural agreements. Trade in goods could increase significantly. In addition to tariff reductions, the greatest benefit for businesses would be legal certainty: Switzerland is the tenth largest export market for American goods and services, while the United States is already Switzerland`s second largest trading partner. A free trade agreement with Switzerland would be an opportunity for U.S. companies such as automakers and entrepreneurial service providers to sell innovative products to a thriving consumer segment. The United States is the second largest investor in Switzerland, while Switzerland ranks a remarkable seventh in the list of U.S. investors, with investment volumes three times higher than China, India and Mexico combined. Free trade agreements are the stated objective of the U.S.

government. It continues to work for cooperation with like-minded countries to promote fair competition in the market, and its official trade agenda states that these nations will find “a true friend and ally” in the administration. However, the United States has not yet reached an agreement with the European Union (EU) and the trade dispute with China is intensifying.