By: Brian Walczyk, Compliance Manager, TradeInsights, LCB, CCS

The White House announced a trade framework agreement with Switzerland and Liechtenstein on Nov. 14th. View the full statement here.

• The U.S. will apply the higher of either the MFN (most favored nations) or 15% reciprocal tariff rate on originating goods of Switzerland and Liechtenstein.

• The U.S. intends to promptly ensure that the MFN tariff and the tariff imposed by Sec 232 for pharmaceutical goods and semiconductors of Switzerland and Liechtenstein do not exceed 15%.

We will continue to monitor this situation and issue updates as needed. Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics