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The United States and Switzerland have essentially reached a trade deal to lower tariffs on Swiss goods from 39% to 15%, US Trade Representative Jamieson Greer said, with details expected Friday. The pending agreement would deliver long-desired relief to Switzerland, which faced the highest levy the Trump administration imposed on any developed country. Greer said the 15% rate includes most-favored-nation tariffs and certain other existing duties, in a setup similar to the European Union.

Prepared by Christopher Adams and reviewed by editorial team.