China and Switzerland Sign Major Upgraded Free Trade Accord
President Xi Jinping and President Guy Parmelin signed a trade deal in Beijing granting 99.8% of Swiss exports duty-free access to Chinese markets.
Chinese President Xi Jinping and Swiss President Guy Parmelin met in Beijing on October 30, 2026, to sign a protocol upgrading their 2013 free trade agreement. The deal grants 99.8 percent of Swiss exports duty-free access to China over the next decade, including the total elimination of tariffs on coffee, cheese, and Swiss watches. In exchange, Switzerland will remove tariffs on 97.3 percent of Chinese agricultural exports.
Beyond goods, the agreement opens Chinese markets for Swiss manufacturing-related services, maritime transport, and aircraft maintenance. The leaders also signed cooperation documents regarding employment, media, and scientific research. The upgrade follows negotiations that began in September 2024 and concluded in August 2026.
The accord follows a period of trade volatility after U.S. President Donald Trump imposed high tariffs on Swiss exports, which were later reduced from 39 percent to 15 percent under a provisional agreement. While the Swiss government stated the deal does not grant new tariff benefits to Chinese industrial goods or impact relations with the U.S. or EU, some U.S. officials expressed concern that Switzerland could serve as a Chinese bridgehead in Europe.
President Xi characterized the agreement as a way to inject confidence into China-Europe economic relations amid a global trend toward protectionism. President Parmelin stated the outcome responded to the concrete expectations of Swiss companies and stakeholders.
