The United States has taken steps to implement the “reciprocal” tariff regime concessions described in the recent framework for a future agreement between the United States, Switzerland, and Liechtenstein. The revised tariffs will take effect retroactively for products entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern time November 14, 2025, the date on which the “Framework” was originally announced. As detailed in recent customs guidance, importers may pursue remedies through ordinary customs procedures. This action does not provide a timeline for other U.S. tariff concessions outlined in the framework.
Encouraging Further Negotiation; Signals to Other Trading Partners
On November 14, 2025, the United States, Switzerland, and Liechtenstein announced a framework to guide negotiation of a fully-fledged agreement between the three countries in the coming months. Yesterday, in exercise of authority granted under Executive Order 14346 to implement framework agreements with U.S. trading partners, the Office of the U.S. Trade Representative (USTR) and the U.S. Department of Commerce (Commerce) acted to partially implement the U.S. tariff concessions described in the U.S.-Switzerland-Liechtenstein framework. At the same time, however, USTR and Commerce reiterate the “understanding and expectation” of meeting the original target timeline for a final agreement — by the first quarter of 2026. Were that not to occur, “review and reconsideration” of these interim tariff concessions is possible.
Separately, by giving effect to the U.S. reciprocal tariff concession retroactive to the Framework’s date of announcement, this implementation may encourage other trading partners to proceed with finalizing any frameworks that are complete-in-principle but pending announcement. This is not the first time that tariff concessions have been made retroactive. For example, concessions provided for under the U.S.-Japan agreement were made retroactive.
Reciprocal Tariffs Reduced
The Federal Register notice identifies two reductions to the reciprocal tariff regime for products of Switzerland & Liechtenstein:
- The current baseline reciprocal tariff rates (39 percent for products of Switzerland, 15 percent for products of Liechtenstein) will be adjusted to the higher of either the U.S. most-favored-nation (HTSUS Column 1) tariff rate or a tariff rate of 15 percent, comprised of the most-favored-nation (HTSUS Column 1) tariff and a reciprocal tariff; and
- Certain agricultural goods, unavailable natural resources, aircraft and aircraft parts, and generic pharmaceuticals and their ingredients and chemical precursors identified in an annex to the notice are eligible for a 0% reciprocal tariff rate.
These products eligible for a 0% reciprocal tariff rate are drawn from the list of Potential Tariff Adjustments for Aligned Partners, as recently amended.
In recent customs guidance, U.S. Customs and Border Protection (CBP) states that importers should correct previously filed entries as necessary to reflect the modified duty rates as soon as possible. For unliquidated entries for which estimated duties have already been deposited, the agency advises importers to file a post summary correction (PSC) to request a refund. Upon PSC approval, the refund will be issued at liquidation. For liquidated entries, CBP advises that importers can request a refund by filing a protest within 180 days after liquidation in accordance with 19 U.S.C. § 1514.
Navigating Trade Agreements and the Tariff Landscape
The attorneys, licensed customs brokers, compliance professionals, economists, and trade specialists of Cassidy Levy Kent regularly assist companies in evaluating their supply chains to ensure compliant market access and adjust for tariff-related developments, both mitigating burdens and taking advantage of opportunities. Cassidy Levy Kent also leverages its thorough understanding of relevant legal regimes to advise companies, governments, and other interested entities on tariff policy and procedures.