US replaces Swiss tariffs with Section 301 duties up to 12.5%

Additional tariff burden on Swiss exporters; negotiations on a binding trade agreement with the US continue.

The United States is replacing the 10% Section 122 tariffs on Swiss imports in force since February 2026 with variable Section 301 additional duties of up to 12.5%, against which existing most-favoured-nation tariffs are credited. The basis are two US investigations opened in March 2026 into alleged overcapacity and forced labour in supply chains. Swiss business and the Federal Council reject the allegations; negotiations on a binding trade agreement continue.