China-Switzerland trade deal removes most tariffs

Chinese leader Xi Jinping and Swiss President Guy Parmelin signed an update to their countries' trade deal in Beijing on Friday, giving 99.8% of Swiss exports duty-free access to China over the next 10 years.

The change expands duty-free treatment from about half of Swiss shipments. Tariffs will be eliminated on Swiss watches, cheese and coffee, though watch producers will still have to pay China's luxury consumption tax. Swiss chocolate and wine were already tariff-free.

In return, Switzerland will remove tariffs on 97.3% of Chinese agricultural exports, up from 80.1%. The update also gives Switzerland greater access to the Chinese market in manufacturing-related services, aircraft maintenance and maritime transport.

Xi told Parmelin the deal could bring “confidence and greater certainty” to China-Europe trade, according to pool reporters. Parmelin said the deal also covered research, innovation, science and labour-related issues.

Officials first announced the deal in August. Switzerland is not a member of the European Union but is linked to the bloc's single market through bilateral agreements. Trade between China and Switzerland, excluding gold and other valuables, was about CHF 33.5 billion ($40.7 billion) in 2025, according to the Swiss economic ministry.