Switzerland negociating with the U.S to lower tariffs on its exports to 15%

Switzerland is nearing a deal with the U.S. to lower tariffs on its exports to 15% from 39%, according to a media report on Monday. A 15% levy would align with the tariff on the neighboring European Union.

It’s possible a deal will be completed within the next couple of weeks, Bloomberg reported, citing people familiar with the matter. Nothing is finalized, though, and the discussions could still fall through, they added.

Switzerland has been trying to secure improved trade terms after President Donald Trump announced a punishing 39% tariff in August. Last week featured a positive Oval Office meeting between Trump and a contingent of Swiss corporate leaders and billionaires.