Switzerland Trade Agreement Us

According to the US Trade Representative, trade between the US and Switzerland amounted to 122 billion $US in 2017 (latest data available). U.S. exports to Switzerland totaled $59.0 billion; Imports amounted to $62.9 billion. The U.S. trade deficit in trade in goods and services with Switzerland amounted to $4.0 billion in 2017. An overview of the swiss free trade agreement network can be found in the www.seco.admin.ch section. Signatories to a free trade agreement form a free trade area (e.g. B Switzerland-EU). It is not a customs union, i.e.

the signatories to the agreement retain their own external customs duties. On the other hand, in the case of a customs union, there are only common external customs duties. Once the goods have passed through this limit and reached the market, they can move freely between different countries, without imposing any further tariffs. Examples of customs unions: European Union or Switzerland-Liechtenstein. In total, there are currently more than 100 bilateral agreements between the EU and Switzerland. The Trump administration should prioritize its quest for a trade and investment pact with Switzerland. Well, here`s another thing Switzerland can be known for: free trade. In addition to the EFTA Agreement and the Free Trade Agreement with the European Union, Switzerland currently has a network of 30 free trade agreements with 40 partners outside the EU and new agreements are being negotiated. The ongoing implementation of these agreements obliges Switzerland to adopt the relevant EU legislation in the sectors covered. In 2010, an agreement on Switzerland`s participation in EU programmes in the fields of education, training and youth was signed. SME Portal: Information and Links to Foreign Trade for SMEs U.S.

and Swiss companies produce the most modern pharmaceuticals, aerospace components, machinery and other state-of-the-art equipment. Switzerland has a demanding services sector, accounting for around 75 per cent of gross domestic product (compared to less than 1 per cent of agriculture). Switzerland is thus an extraordinarily attractive partner for an advanced trade agreement. Following the refusal of EEA membership in 1992, Switzerland and the EU agreed on a set of seven sectoral agreements signed in 1999 (called “bilateral I” in Switzerland). These include the free movement of persons, technical barriers to trade, public procurement, agriculture and air and land transport. .