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China, Switzerland Agree to New Trade Deal Scrapping Most Levies
The updated pact would let 99.8% of Swiss exports enter China duty free and expand coverage beyond the 2014 agreement.
- On Thursday, Swiss President Guy Parmelin and Commerce Minister Wang Wentao announced completion of negotiations for an updated free trade agreement, increasing Swiss market access to China, the country's third-largest trading partner.
- The updated accord upgrades the 2014 free trade agreement, which was Beijing's first such deal with an economy in continental Europe, expanding on terms that previously covered only about half of Swiss exports.
- New provisions include a first-time reference to the Universal Declaration of Human Rights and stricter labor and environmental standards, while key sectors like watches, pharmaceuticals, and precision instruments gain full duty-free access.
- Following legal review completion, officials plan to sign the treaty before year-end; the announcement lifted Swiss stocks including Swatch Group and Richemont as markets reacted positively to expanded Chinese market access.
- The agreement offers stability for Switzerland's export-oriented economy amid ongoing risks from United States trade policy, which previously included a 39% levy imposed by the Trump administration on Swiss goods.
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11 Articles
11 Articles
Switzerland and China have optimised their free trade agreement. Swiss exports are expected to enter the Chinese market duty-free in the future.
·Zürich, Switzerland
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Swiss and Chinese reach agreement on updated free trade deal
·London, United Kingdom
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Soon all goods from Switzerland to China will be almost completely free of customs duties, which is the result of negotiations on improvements to the free trade agreement of the countries.
·Düsseldorf, Germany
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The Chinese market is opening up to Swiss companies.
·Helsinki, Finland
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China, Switzerland Agree to New Trade Deal Scrapping Most Levies
(Bloomberg) -- Switzerland and China agreed on a new trade accord that almost entirely removes tariffs on Swiss exports, as Beijing tries to increase ties in Europe amid its ongoing rivalry with the US for global influence.
·Bern, Switzerland
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Total News Sources11
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 28%
R 43%
Factuality
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