THE WHAT? The US has reduced additional tariffs on Swiss imports to a 15% ceiling, applied retroactively from 14 November 2025, with cosmetics included in the affected product categories.

THE DETAILS The new tariff cap replaces a previous additional duty of up to 39% on Swiss goods. Alongside existing exemptions for pharmaceuticals and certain chemicals, the US will lift general additional tariffs on further Swiss exports, including cosmetics, rubber products and generic drugs. The full product list will be published in the US Federal Register.

Sector-specific US tariffs under Section 232 remain unchanged, but any future tariffs on Swiss pharmaceuticals will also be capped at 15%. In return, Switzerland will reduce tariffs on selected US agricultural products. Importers on both sides can apply for retroactive customs refunds.

THE WHY? Lower US tariffs reduce landed costs for Swiss cosmetics suppliers and restore competitive alignment with EU-based peers in the US market.

Source: Swiss Government

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