China: Customs advantage with reservations: Is Switzerland finding an answer to the China shock?
Like German mechanical engineering companies, Swiss firms are also losing market share in China. The country is relying on an expanded free trade agreement - and could give companies an advantage.
Switzerland is pushing for an expanded free trade agreement with China, which the Swiss government hopes to sign this autumn. The agreement aims to improve the competitive position of Swiss companies in China, particularly in the machinery sector, where Swiss companies face tough competition from Chinese manufacturers. Currently, only about half of Swiss exports to China are tariff-free, but the new agreement could see 99.8% of Swiss exports to China exempt from tariffs.
The Swiss government estimates that this could save Swiss companies around 244 million Swiss francs per year in tariffs.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
