No customs deal with the US – but the Chamber of Commerce chief says: 'Switzerland got the most out of it'

Switzerland has not secured a definitive customs deal with the United States, but the head of the Swiss-American Chamber of Commerce, Rahul Sahgal, remains unfazed. He believes Switzerland has extracted the maximum possible concessions from the US.

“

No. The Americans said last November: If Switzerland implements A, B, and C, the tariffs will be a maximum of 15 percent. So far, they have stuck to it. Now, in return, we are showing that we are also implementing the agreement. Therefore, I see no reason at the moment why the US should deviate from this agreement.

Sahgal explained that the US had previously indicated that if Switzerland implemented specific measures, tariffs would not exceed 15 percent. He noted that the US has largely adhered to this, and Switzerland is now demonstrating its commitment to the agreement. Therefore, he sees no reason for the US to deviate from this understanding.

“

What matters at the moment is not whether we have a formal agreement or not, but what tariffs will actually apply at the end of July.

While a binding trade agreement would offer greater legal certainty and WTO compliance, Sahgal pointed out that the Trump administration prioritizes political outcomes over formal processes. He acknowledged the unequal power balance but highlighted that the US has so far respected the non-binding declaration. He also cautioned that if the US mishandles the tariff process, they risk legal challenges.

“

In the medium term, we need a binding trade agreement, for reasons of legal certainty and WTO conformity. But with the Trump administration, you also see: What matters less is whether they have signed something or not, but what they want to achieve politically.