Trump touts 'fair deal' on trade in meeting with Switzerland's Parmelin

President Donald Trump met with Switzerland's President Guy Parmelin during the World Economic Forum (WEF) in Davos on Wednesday (January 21), with both sides seeking to boost a bilateral trade deal.

Switzerland's Federal Council has adopted a final negotiating mandate for talks on a legally binding trade agreement with the United States, the Swiss government has reported.

Switzerland is looking to reduce U.S. tariffs on its imports and paving the way for a comprehensive agreement.

Under a trade framework, Washington set a 15% ceiling on country-specific additional tariffs on Swiss imports, down from 39%, with the change applied retroactively from November 14.

In return, Switzerland agreed to cut duties on a range of U.S. products, including fish and seafood and selected agricultural goods it deems non-sensitive.

-Paul Vieira/Reuters