According to the US Trade Representative, trade between the US and Switzerland amounted to 122 billion $US in 2017 (latest data available). U.S. exports to Switzerland totaled $59.0 billion; Imports amounted to $62.9 billion. The U.S. trade deficit in trade in goods and services with Switzerland amounted to $4.0 billion in 2017. Free trade agreements aim to improve trade relations with important partners around the world. The aim is to eliminate or at least minimise obstacles to international markets for the Swiss economy. Tariffs and non-tariff barriers (e.g. (B technical rules, packaging and labelling rules, import quotas) will be abolished. An overview of the swiss free trade agreement network can be found in the www.seco.admin.ch section.
Free trade agreements have reduced the prices of products for Swiss consumers and increased the supply of products. At the same time, Swiss producers benefit from lower prices for semi-produced products and raw materials. The global environment has changed dramatically. Today, the dominant themes are weakened multilateralism, trade wars and the rise of China. Issues relating to bilateral relations between Switzerland and the United States have evolved, banking secrecy is a thing of the past and progressive liberalisation makes it possible to find creative solutions for Swiss agriculture in decline. The two countries are already closely linked economically. “In total, more than 700,000 jobs – including 450,000 in the United States and 260,000 in Switzerland – depend directly on bilateral trade in goods and services and foreign direct investment,” says Jennifer Anthamatten, principal investigator and co-author of the report. On both sides of the Atlantic, there is CHF 400 billion directly. An agreement would represent a clear gain for the United States and Switzerland. Five years after an agreement came into force, it is estimated that 27,500 additional jobs (four times the number of Hawaiian Airlines employees, for example) and 13,500 additional jobs in Switzerland could be expected in the United States.
At first glance, a free trade agreement (FTA) between Switzerland and the United States seems implausible, but this important new study concludes that a free trade agreement between the two countries would be very profitable for both countries. As the main defenders of market capitalism, Switzerland and the UNITED STATES are well placed to conclude a free trade agreement that takes new paths to remove barriers. The study notes that the annual benefits of GDP for each broader trading partner could be in the order of $US 1.1 billion. A free trade agreement between Switzerland and the United States would bring both countries considerable prosperity. In five years, merchandise trade would increase by more than $14 billion and more than 40,000 new jobs could be created, including 27,500 in the United States. A free trade agreement with its tenth trading partner would give the United States the opportunity to gain free access to one of the world`s free market economies, a country that has a common faith in values such as the rule of law, freedom, democracy and free markets. A window of opportunity is now open and should be used. A new strategic report from the leading Swiss think tank, framed by Patrick Dümmler and Jennifer Anthamatten, examines the benefits in terms of investment and trade in goods and services and calculates the additional growth that would be boosted by a free trade agreement. . . .
