China and Switzerland Reach Trade Accord Removing Most Tariffs

China and Switzerland reached a trade accord on Thursday that removes tariffs on 99.8% of Swiss exports. The agreement provides duty-free access for precision instruments, watches, and pharmaceuticals, while granting Swiss investors improved access to the Chinese market.

In exchange for the tariff removals, China agreed to stricter rules regarding labor rights and environmental issues. For the first time in one of its free-trade agreements, China included a reference to the Universal Declaration of Human Rights. The deal updates a previous agreement from 2014 and serves as a strategic effort by Beijing to deepen ties with Europe amid its ongoing rivalry with the United States.

Chinese Minister of Commerce Wang Wentao and Swiss President Guy Parmelin finalized the treaty. The formal signing is scheduled to take place before the end of 2026, pending domestic approval processes in both nations.