China and Switzerland agree on expanded free-trade deal removing tariffs

China and Switzerland wrapped up negotiations on an expanded free-trade agreement on August 20, aiming to eliminate tariffs on a wider range of products and deepen cooperation across sectors from e-commerce to green development. The upgraded deal marks the most significant overhaul of the bilateral trade relationship since the original agreement took effect on July 1, 2014. Bilateral trade between the two countries hit approximately CHF 59 billion (roughly $74 billion) in 2023. Swiss exports to China alone accounted for CHF 40.6 billion of that figure. China ranks as one of Switzerland’s three largest trading partners, trailing only the EU and the US. What’s actually in the deal The upgraded FTA goes well beyond simple tariff reductions. The agreement expands zero-tariff treatment to additional product categories and deepens cooperation in goods, services, investment, rules of origin, trade facilitation, e-commerce, environmental standards, and broader economic collaboration. Switzerland’s Foreign Minister Ignazio Cassis and China’s Foreign Minister Wang Yi have both positioned the enhancement as a critical measure to strengthen bilateral trade and investment during a period of con...