Swiss sticking to mandate for trade talks with US, minister says

Switzerland is sticking to its existing mandate for trade negotiations with the United States that aim to finalise a deal over tariffs struck last year, Economy Minister Guy Parmelin said on Friday.

Parmelin was speaking after the United States said on Wednesday it was launching trade investigations into excess industrial capacity in 16 major trading partners, including Switzerland, and into allegations of forced labour.

"And we will most certainly also consult with these countries to see how to respond to the United States," Parmelin told reporters at a press conference.

Switzerland was subject to the highest U.S. tariffs in Europe when U.S. President Donald Trump imposed in August a 39% duty on products imported from the country.

In November, Bern sealed an initial deal that cut the tariffs to 15%, mirroring the rate for the European Union.

Switzerland has since begun talks to formalise that deal, which Washington has been pressing to conclude by the end of March.

"The negotiations and discussions are continuing," said Parmelin, who is also Switzerland's president for 2026.

(Reporting by Dave Graham, Editing by Miranda Murray)