Business · Trade · 7 hrs ago
China and Switzerland sign deal cutting tariffs on most Swiss exports
China and Switzerland signed an upgraded trade deal at a ceremony in Beijing on Friday.
Chinese President Xi Jinping and Swiss President Guy Parmelin praised the agreement, which expands access for goods and services.
Tariff-free access will cover 99.8% of Swiss exports to China over the next 10 years, up from about half before.
The deal removes tariffs on Swiss watches, cheese and coffee, though luxury goods will still face China’s consumption tax.
It also cuts tariffs on 97.3% of Chinese agricultural exports to Switzerland, compared with 80.1% before.
The agreement stands out as trade barriers grow between China and some European countries and the United States.
Its terms will take effect over the coming decade, while Switzerland continues to balance trade with China against security and technology concerns.
China and Switzerland signed an updated free trade agreement in Beijing on Friday, October 30, 2026.
The deal is intended to cut tariffs on most Swiss exports to China and expand access in some services.
One report says 99.8% of Swiss exports will receive tariff-free access over the next 10 years, while another says tariffs will be removed on 99% of goods traded between the countries.
Swiss President Guy Parmelin said the deal includes some limited agricultural concessions by Switzerland.
Parmelin also said existing Chinese trade barriers remain and that the agreement provides a way to address them.
The agreement will take effect after both countries complete their domestic approval processes.
- Who
- China and Switzerland, represented by President Xi Jinping and Swiss President Guy Parmelin.
- What
- They signed an updated free trade agreement that cuts tariffs on most traded goods and expands market access.
- When
- Friday, October 30, 2026.
- Where
- Beijing, China.
- Why
- The countries said the agreement would improve trade access and cooperation; Parmelin said the return of protectionism helped advance negotiations.
This story does not have two clearly opposing sides.
Negotiations to update the existing agreement began.
Officials announced an agreement to update the trade deal.
Xi Jinping and Guy Parmelin signed the updated agreement in Beijing.
The agreement is due to enter into force once both countries complete their approval processes.
- Swiss exports
- 99.8% are due to receive tariff-free access to China over 10 years, according to Asharq Al-Awsat.
- Goods traded
- Tariffs are due to be removed on 99% of goods traded between the countries, according to Bloomberg HT.
- Swiss agricultural concessions
- Parmelin said concessions were made in some agricultural areas, but no additional quotas were granted.
- Swiss watches
- Tariffs are due to be removed on all Swiss watches, but China’s luxury-goods consumption tax will remain.
- Bilateral trade
- About 33.5 billion Swiss francs in 2025, excluding gold and other precious goods, according to Switzerland’s economy ministry.
5 sources
Abkommen Schweiz–China – Parmelin: «China hat noch immer gewisse Handelshemmnisse»
الصين وسويسرا تبرمان اتفاقاً تجارياً يلغي معظم الرسوم الجمركية
Çin ile İsviçre karşılıklı gümrük vergilerini sıfırlıyor
China's Xi, Swiss president praise trade deal that boosts access
What people are saying
It’s a new step in our relations and I think we can be proud of the outcome of the negotiations
China still has certain trade barriers
a new stage
together they could bring greater certainty to China-Europe trade cooperation and global economic development