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2025-12-17 23:50:07
[Swiss Economy Minister: Swiss Companies May Recover Hundreds of Millions of Swiss Francs in US Tariff Refunds] Swiss Economy Minister Guy Pamelain stated that thanks to the retroactive effect of the trade agreement between Switzerland and the US, Swiss companies are expected to recover "hundreds of millions of Swiss francs" in tariff refunds from the US. Pamelain pointed out that reducing tariffs from 39% to 15% has had a "decisive" impact on local businesses. He added that because the agreement is retroactive, Swiss companies can receive significantly higher refunds than their American counterparts. This preliminary agreement was tentatively reached on November 14th, and the government announced this month that its effect would begin from that date. The minister will assume the rotating presidency of Switzerland next year. While members of parliament from all parties have praised the tariff reductions, Pamelain still faces some questions, such as whether Switzerland has made too many concessions under pressure from the US. Pamelain stated, "The amount that can be refunded is quite substantial for Swiss companies, especially as Christmas and the end of the fiscal year approach." He revealed that exporters of watches, cheese, machinery, and aircraft are all eligible to apply for refunds.
