The US-Switzerland trade deal may include guarantees on drug taxes

A draft trade agreement between the United States and Switzerland contains a provision that Switzerland would receive preferential treatment in an ongoing national security investigation to avoid tariffs on its pharmaceutical exports, according to people familiar with the matter. The provision does not guarantee that Washington will delay imposing tariffs on Switzerland's pharmaceutical industry, which is vital to the country. The wording is intended to guarantee cooperation between the two sides to avoid such action through the so-called Section 232 investigation, they said. The draft also requires a nod from Trump, which the Swiss government has implicitly agreed to, one of the people said. Switzerland will formally ratify it soon, as long as the U.S. president signs it, they added.