TARIFFS: US-Swiss Trade Deal To Be Announced As Soon As Today

Reuters reporting comments from United States Trade Representative, Jamieson Greer, stating that Switzerland will “probably” be the subject of the next US trade deal, which could be announced as soon as today.

• Greer said in an interview with CNBC, Switzerland will “probably” be next in line for a trade framework, noting "we've essentially reached a deal.” He added, “I’ll post details on the White House website on Friday.”
• On the substance of the deal, Greer suggested Switzerland will bring down its trade surplus with the US and “send a lot of manufacturing” to the US. He noted the deal will also include “pharmaceuticals, gold melting, railway equipment.”
• Greer appeared to downplay the broader implications of the Trump administration removing tariffs on certain goods - including coffee, bananas, and cocoa - that cannot be produced in the US: “There are some 'micro-areas' where we don’t need tariffs.”
• The Trump administration announced trade deals with Argentina, El Salvador, Ecuador, and Guatemala. A move that appears aimed at addressing voter concerns over inflation. Axios noted, “The move acknowledges that Americans pay at least some of the cost of tariffs, that tariffs have affected food prices, and that changing trade policy is one way to help fix the problem.”
• Yesterday, Brazilian Foreign Minister Mauro Vieira signalled, after a meeting with US Secretary of State Marco Rubio in Washington, that a preliminary trade deal with the US could be announced as soon as this month, with a final trade agreement to formalised later.