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Could US tariff rates on Swiss imports rise? US President Donald Trump on Wednesday said he had lowered the US tariff rate on imports from Switzerland amid pressure from Swiss companies including Rolex. He, however, hinted that the rates could rise again.
"I reduced it because I don't want to hurt people. I don't want to hurt them. And we brought it down to a lower level; doesn't mean it's not going up," Trump said at the World Economic Forum in Davos, Switzerland on Wednesday, 21 January.
The current rate of US tariffs on many Swiss goods is 15%.
US agrees to cut Swiss tariffs to 15%
Trump's comments in Davos comes days after the US and Switzerland reached a preliminary trade agreement to lower tariffs on many Swiss goods including watches from 39% to 15%.
In exchange, companies from Switzerland and Liechtenstein have committed to investing $200 billion over the next five years — including $67 billion in 2026 — to create manufacturing and research and development jobs, according to a White House fact sheet.
(This is a developing story. Keep checking for more updates)
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