Baker McKenzie’s Global Import Blog published this post on the new trade agreement framework between Switzerland, Liechtenstein, and the United States. Under the framework, the United States will reduce these tariffs to 15%, aligning Switzerland and Liechtenstein with the treatment given to the European Union in exchange for various concessions and commitments made by Switzerland and Liechtenstein.
The agreement will also enhance enforcement of trade sanctions and US export controls through closer coordination. In May 2025, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) and Switzerland’s State Secretariat for Economic Affairs (“SECO”) agreed on a memorandum of understanding on cooperation in these areas.
