Trade Chief Greer Sees Progress in USSwiss Trade Talks

The United States and Switzerland are making progress in trade negotiations, U.S. Trade Representative Jamieson Greer said on July 16, as both countries work toward a permanent agreement following last year’s tariff dispute.Greer told Bloomberg Television that discussions are moving in the right direction, although he stopped short of predicting the outcome.“The Swiss are doing a lot of the things they need to do to get right with the U.S.,” Greer said. “Negotiations are still ongoing, so I can’t guarantee anything. But there’s positive direction there.”The comments come nearly a year after U.S. President Donald Trump imposed a 39 percent tariff on Swiss imports, the highest rate applied to any European country. The two sides later reached a framework agreement in November 2025 that reduced the tariff to 15 percent, matching the rate applied to imports from the European Union.Negotiators have continued working toward a broader trade agreement since then.The two countries maintain one of Europe’s largest bilateral trade relationships, covering pharmaceuticals, medical technology, machinery, and financial services.In 2025, the United States recorded a $34.3 billion goods trade deficit with Switzerland, according to the Office of the U.S. Trade Representative. U.S. goods exports to Switzerland totaled $71.7 billion, while imports reached $106 billion.Greer said the trade relationship has improved in recent months, particularly in goods trade.“We’ve been very concerned with our trade deficit with Switzerland, but over the past six to seven months, the United States is now in surplus with Switzerland in goods. So that’s a really positive development,” he told Bloomberg Television.Swiss InvestmentGreer also pointed to growing Swiss investment in U.S. manufacturing as evidence that bilateral ties are strengthening.“The Swiss are investing here in America. In fact, this week I am going to visit a plant in Utah, where they are producing railway equipment. It is a Swiss company; they are coming here, they are bringing their apprenticeship programs,” he said.Although Greer did not identify the company by name, his public schedule for July 17 includes a visit to a Stadler Rail manufacturing facility in Salt Lake City.Swiss train manufacturer Stadler recently announced a major expansion of its U.S. business.The company said on July 1 that it had completed a 245,000-square-foot expansion of its Salt Lake City manufacturing plant. Stadler said the project is expected to create up to 300 new local jobs, including youth apprenticeship positions.“This milestone reflects not only how far we’ve come over the past decade, but also our long-term commitment to building trains, creating jobs, and investing in American manufacturing,” Martin Ritter, CEO of Stadler North America, said in a company statement.U.S. President Donald Trump (L), en route to attend the G7 Leaders’ Summit in France, waves after being greeted by President of the Swiss Confederation Guy Parmelin (R) as U.S. Ambassador to Switzerland Callista Gingrich (C) looks on in Geneva, Switzerland, on June 15, 2026. Anna Moneymaker/Getty ImagesSwiss President Guy Parmelin attended the anniversary celebration, where the company marked 10 years of manufacturing trains in the United States. Stadler said his visit highlighted the close economic and innovation ties between the two countries.Swiss officials have also taken steps to implement commitments made during trade negotiations.Last month, the Swiss Federal Council announced plans to amend several regulations to support the preliminary trade agreement with the United States.The measures include simplifying recognition of U.S. standards for passenger vehicles and medical devices, making it easier to recognize U.S. conformity assessment bodies, and updating rules covering government procurement.“A comprehensive trade agreement remains the Federal Council’s overarching aim,” the Swiss government said.The Federal Council added that the new measures “further contribute to the stabilization of bilateral economic relations between Switzerland and the United States and give Swiss exporters greater planning certainty.”