On 14 November 2025, Switzerland, Liechtenstein, and the United States announced a framework to negotiate an Agreement on Fair, Balanced, and Reciprocal Trade (see joint statement here and press release of Swiss government here, see fact sheet here). This development brings long-awaited relief to Swiss market participants after the steep 39% tariffs introduced on 1 August 2025 (Swiss national day) sent shock waves through the Swiss economy. Under the framework, the United States will reduce…
Following 16 years of negotiations, the Trade and Economic Partnership Agreement (TEPA) between India and the EFTA (European Free Trade Association) States – Switzerland, Iceland, Norway, and Liechtenstein – will enter into force on 1 October 2025. As the first European countries to conclude a free trade agreement with India – the world’s most populous nation – the EFTA States are strategically positioning themselves to tap into substantial economic opportunities. TEPA marks a significant milestone…