The U.S. administration has agreed to lower its tariffs on imported Swiss products to 15 percent from 39 percent, the White House said in a statement on Friday.
After months of negotiations, the United States and Switzerland, joined by Liechtenstein, reached a framework trade agreement, noted the White House.
As part of the agreement, Swiss and Liechtenstein companies will invest around 200 billion U.S. dollars in the United States, with at least 67 billion dollars invested in 2026.
Intending to create thousands of jobs across all 50 U.S. states, the investment will span several sectors, including pharmaceuticals, machinery, medical devices, aerospace, construction, advanced manufacturing, gold manufacturing, and energy infrastructure, the White House said.
The countries aim to conclude negotiations to finalize their trade deal by early 2026. The 15-percent tariff rate on Swiss imports means "the same treatment given to the European Union," according to a fact sheet from the White House.
Switzerland, an export-driven economy, has already taken a hit from U.S. tariffs since U.S. President Donald Trump imposed the 39 percent tariff rate in August, one of the highest globally and higher than the 31 percent he threatened in early April.
According to Swiss customs data, the United States has been Switzerland's largest export market since 2021, accounting for 18.6 percent of exports in 2024.
The United States was the top market for major Swiss industries, including chemicals and pharmaceuticals, watchmaking, and precision instruments last year.
US agrees to cut tariffs on Switzerland to 15 pct
The United Arab Emirates' (UAE) exit from the Organization of the Petroleum Exporting Countries (OPEC) and the broader OPEC+ is unlikely to jolt oil markets in the short term, but sets the stage for lower prices once the Iran conflict ends and Gulf exports resume, experts said.
Effective Friday, the UAE formally withdrew from OPEC in a move poised to reshape global oil markets. The decision came amid heightened geopolitical tensions driven by the ongoing Iran conflict.
The UAE Energy Minister Suhail Al Mazrouei said the timing was chosen to cause the least market disruption. But analysts say the exit reflects the UAE's long-simmering frustrations over production quotas that no longer align with its capacity.
"It gives the UAE flexibility to move from a quota within OPEC of 3.3 million barrels a day to 5 million barrels a day in 2027. It won't radically change the pricing. It will make more energy available. So, it will take some of the price pressures off," said John Defterios, senior advisor for APCO Worldwide, a global advisory firm, and also senior fellow at the Center for Energy and Materials of the World Economic Forum.
While immediate market impact remains muted amid wartime volatility, experts anticipate meaningful shifts once regional stability returns.
"It has no impact right now, because obviously oil prices right now depend on the state of the war and whether exports can start freely through the Gulf and so on. But assume, once the war is over and a normal transit resumes, I would expect the UAE will move quickly to increase production and try to refill some of that storage that was drained. And that should mean, in general, lower prices for oil importers, for oil consumers. In the longer term, yes, I think also probably it means lower prices," said Robin Mills, CEO of Qamar Energy, a Dubai-based independent consultancy company.
The UAE's departure highlights structural tensions within OPEC+. As a low-cost producer with billions invested in upstream expansion, Abu Dhabi increasingly chafed against collective quotas.
However, other members, including Iraq and Kazakhstan, also sought higher production allowances.
"This pressure has been building up for some time. But Saudi Arabia was also in a difficult position. If it agreed to grant higher production levels to the UAE, then it would have to grant them to Iraq as well. Kazakhstan wanted more [allowance as well]. Everybody wants special treatment," said Mills.
Strategically, the move aligns with the UAE's broader vision to diversify its economy.
"They made this announcement ahead of a very important forum, Make It In the Emirates, which displays what the UAE is doing in terms of diversification outside of oil and gas. So, they want that revenue from oil and gas -- the extra 50 billion dollars a year to go into greater diversification. It's advanced manufacturing, it's artificial intelligence, it's the next wave of financial services, and it is trade," said Defterios.
The exit also signals a broader recalibration of legacy energy institutions in a world confronting new climate imperatives, geopolitical fragmentation, and energy transition pressures.
"I do think it shows definitely a world in which there's a new energy reality, there's a new climate reality, there's a new geopolitical reality. And these legacy institutions have to adapt. And if they don't, then of course, their members will either leave or at least won't take them seriously," said Mills.
UAE's OPEC exit long expected, may ease oil prices after Iran war ends: experts
