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Reciprocal US tariffs – overview and implications
Nov 4, 2025
On April 2, 2025, the US government marked a new era in its trade policy with “Liberation Day”. By introducing reciprocal tariffs, it aims to ensure more equitable conditions in international trade and to reduce the US trade deficit. Initially, a general basic duty of 10% was levied, which will be replaced by significantly higher, country-specific tariffs from August 7, 2025. The new regulations affect many exporting nations and industries and have far-reaching implications for global supply chains, especially for companies in Europe.
On April 2, 2025, “Liberation Day”, the US government introduced reciprocal tariffs. The aim of this measure is to ensure equitable trade conditions and to reduce the existing trade deficit.
Since April 5, 2025, the US has been levying a reciprocal basic tariff of 10% in addition to the applicable MFN (most favored nation) rate.
On August 7, 2025, this basic duty was replaced by country-specific reciprocal duties pursuant to Annex I. For goods originating in Switzerland, the country-specific customs duty is 39%. For goods originating in Liechtenstein, it is 15%.
On December 18, 2025, the US confirmed to reduce the flat-rate customs duty on imports from Switzerland and Liechtenstein to 15% ‘all-in’ retroactively to November 14, 2025.
Any excess customs duties paid in the United States can be reclaimed by the importer (importer of record) via the electronic ACH refund procedure of U.S. Customs and Border Protection (CBP). More detailed information on the refund can be found here.
Country-specific duties are determined by the country of origin of the goods and not the country of departure. The US non-preferential rules of origin apply.
For goods with a US share of at least 20%, the additional duty is only levied on the value without the US share.
Note: the current additional duties can be accessed at any time in the customs database. Updates are generally made on the cut-off date, but may be delayed by up to one working day in the event of last-minute changes.
15% „All-in“
The agreed ‘all-in’ customs duty rate of 15% already includes the MFN rate and is not applied additionally.
This means:
- For goods with an MFN rate below 15%, a uniform customs duty rate of 15% is levied.
- For goods with an MFN rate above 15%, no additional reciprocal customs duty is levied.
Exemptions
The following are exempt from the reciprocal tariffs:
- Goods that already have an additional customs duty due to section 232, e.g. aluminum, steel, copper and vehicles
- Products listed in Annex II of the executive order with specific US customs tariff numbers
- Semiconductors and certain electronic devices, such as smartphones, whose customs tariff numbers are listed in the presidential memorandum
- Swiss and Liechtenstein goods of origin listed in Annex I of the Federal Register Notice of 18 December 2025
Drawback
Reimbursement via duty drawback is also possible for reciprocal customs duties. Whether the prerequisites for duty drawback are met must be checked by an expert in each individual case.
Timing of the introduction of reciprocal tariffs
April 2, 2025
Announcement of reciprocal tariffs
April 5, 2025
Introduction of a 10% reciprocal basic tariff
April 9, 2025
Introduction of country-specific reciprocal tariffs (Switzerland 31%, Liechtenstein 37%)
April 9, 2025
Suspension of country-specific tariffs for 90 days
July 7, 2025
Extension of the suspension until August 1, 2025
Extending the Modification of the Reciprocal Tariff Rates – The White House
July 31, 2025
Adjustment and introduction of country-specific tariffs on August 7, 2025
Further Modifying the Reciprocal Tariff Rates – The White House
September 5, 2025
Adjustment of Annex II (exempted products)
September 29, 2025
Introduction of additional tariffs on wood products (effective 14 October 2025); affected products will be removed from Annex II
November 14, 2025
The US has announced that it will cap the country-specific additional duty for Switzerland and the Principality of Liechtenstein at a maximum of 15% (including MFN).
Info SECO: Swiss-US trade relations
December 10, 2025
Decision: The reduction of the reciprocal additional duty for Switzerland and Liechtenstein to 15% (including MFN) will come into force retroactively on November 14, 2025.
Reduction in US additional tariffs to enter into force retroactively
December 18, 2025
Implementation of the reduction of the reciprocal additional duty for Switzerland and Liechtenstein to 15% (including MFN).
Federal Register :: Public Inspection: Certain Tariff-Related Elements of the Framework for a United States - Switzerland - Liechtenstein Agreement on Fair, Balanced, and Reciprocal Trade
„All-in“ 15 % zusätzlicher Einfuhrzoll erklärt
