Liechtenstein, Switzerland and the USA have agreed on a legally non-binding declaration of intent. This will further stabilize economic relations and establish in writing a bilateral tariff rate of 15% on most goods from Liechtenstein and Switzerland. In the declaration, the USA assures Liechtenstein and Switzerland of the same customs treatment and thus recognizes the customs treaty. At the same time, Liechtenstein and Switzerland are committed to promoting investments by their companies in the USA.

At the beginning of July, Liechtenstein, Switzerland and the US were already on the verge of adopting a joint declaration to avoid the reintroduction of high bilateral additional tariffs. No agreement was reached at the time. From the beginning of August, Liechtenstein was subject to a unilateral additional tariff of 15%, while an additional tariff of 39% was imposed on Switzerland. In the meantime, the three countries have been able to agree on a joint declaration. This now forms the basis for further negotiations, in which Liechtenstein will advocate for additional tariff reductions.

The declaration stipulates that for most goods from Liechtenstein and Switzerland, a capped bilateral duty rate of a maximum of 15% will apply until further notice. Previously, the bilateral additional duty was added to the applicable MFN duty rate for goods of Liechtenstein or Swiss origin. With the 15% cap, Liechtenstein companies are now once again on an equal footing with companies from the EU. This cap will also apply to any sectoral tariffs on semiconductors and pharmaceutical products. Existing sectoral tariffs, for example on steel and aluminum, remain unchanged. Of particular importance is the fact that the USA explicitly recognizes the customs treaty between Liechtenstein and Switzerland and intends to grant Liechtenstein and Switzerland the same customs treatment from now on. In return, Liechtenstein and Switzerland want to promote investments by their companies in the US and the creation of jobs.

The Liechtenstein government welcomes the agreement on a Memorandum of Understanding. This makes Liechtenstein one of a group of countries with which the US defines its customs policy through negotiations rather than unilateral measures. The declaration thus contributes to the further stabilization of economic relations with the most important trading partner outside Europe. The next step will be to negotiate a binding trade agreement between Liechtenstein, Switzerland and the USA based on the content of the joint declaration. The government will adopt a negotiating mandate for this purpose. A binding agreement between Liechtenstein, Switzerland and the USA should create legal certainty in trade relations.