The Swiss–U.S. Trade Deal Dr. Rahul Sahgal
Pro memoria The United States is Switzerland’s most important bilateral export market, accounting for around 18% of Swiss exports, while Switzerland represents about 3% of U.S. export volume. U.S. companies are by far the largest source of foreign direct investment in Switzerland — and their presence continues to grow. Switzerland brings enormous value to the transatlantic relationship too: it offers a stable, open, and innovation-driven economy; it is the largest foreign investor per capita and the leading foreign investor in U.S. research and development, the third-largest in manufacturing, and the sixth-largest overall. Swiss companies pay the highest average salaries of any foreign employers in the United States. Moreover, 99.3% of U.S. products enter Switzerland duty-free, and there are no digital services taxes or other discriminatory measures targeting American firms. The Swiss government and the private sector worked hand in hand to reduce the discriminatory tariffs on Swiss exports and to maintain Switzerland’s position as an attractive and competitive business location — with the aim of safeguarding jobs, investment, and the national tax base, while also engaging constructively with U.S. concerns in international trade, investment and national security. At the Swiss-American Chamber of Commerce, we have done everything within our means to represent the interests of our members and, more broadly, of companies operating in Switzerland. We provided continued hands on support to the Swiss negotiating team, providing contacts, advice as well as data regarding Swiss investments in the U.S.. We brought together member companies that run apprenticeship programs in the U.S., gave input on the broader economic agenda and lobbied directly or through our members with U.S. Senators, Representatives, Governors and the White House. This combined effort paid-out today and represents the strength of this Chamber.
The Participants intend to explore mechanisms that promote interoperability between their respective privacy frameworks with a view to facilitating secure cross-border transfers of data . The Participants intend to refrain from imposing customs duties on electronic transmissions and to support the multilateral adoption of a permanent moratorium on customs duties on electronic transmissions at the WTO. 5. Economic Security The Participants intend to strengthen their cooperation on economic security, including on addressing non-market policies of third countries. The Participants recognize that the effective enforcement of economic and trade sanctions serves the Participants’ shared interests. The Participants intend to strengthen existing cooperation with regard to U.S. export controls and sanctions . Switzerland and Liechtenstein intend to cooperate with the United States on matters related to the review of inbound investment , including on the basis of national security. Switzerland and Liechtenstein intend to work cooperatively with the United States to secure supply chains and improve supply chain resilience in sectors of shared interest. This Joint Statement is not the end — it is the beginning of a new chapter in the dynamic, resilient, and forward-looking Swiss–U.S. economic and political partnership. And as it seeks a new equilibrium, our mission remains unchanged: to ensure Swiss-American business thrives and remains mutually beneficial.
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