Swiss executives gave luxury gifts for US President Donald Trump shortly before Bern and Washington announced a new trade deal that reduces the steep US import tariffs, according to media reports.
The deal, announced on Friday, cuts the Trump administration’s 39% tariff on the country’s goods to 15% and includes a pledge by Swiss companies to invest $200 billion in the US economy. The tariff hike took effect in August, after Trump’s ‘Liberation Day’ speech in April outlining a global trade overhaul.