Switzerland Plans To Exempt All Industrial Products From Import Duties From January 1, 2022.

According to the news report of NZZ and the announcement of the government of Swiss Confederation.

The Swiss Confederation Committee (Bundesrat) submitted the draft Swiss unilateral tariff exemption for all industrial products to the Swiss Confederation parliament in November 27th (2019). The Swiss Confederation Committee recommends that, from January 1, 2022, Switzerland exempt the import duties of all industrial products, including machinery, metals, semi manufactured goods and consumer products (e.g. clothing, vehicles, toys, clocks, shampoos) and other products, except agricultural products and fishery products.

According to the government announcement, the Swiss tariff tariff on industrial products in 2018 amounted to about 560 million Swiss francs (the average tariff of Swiss products for industrial products in the past few years was 500 million Swiss francs). The Swiss Confederation government commissioned a consultancy (Ecoplan) study to point out that an annual increase of 860 million Swiss francs will achieve an overall national economic benefit.

According to economic experts, by importing the tariff of industrial products completely, local importers can import at lower cost. Local consumers can buy products at a cheaper price, domestic prices drop, demand is expected to increase, and help to reduce the high price situation in Switzerland, which is conducive to export and enhance industrial competitiveness. The exemption of import tariffs on all industrial products was part of the measures proposed by the government of Swiss Confederation in December 20, 2017 to alleviate the high consumer prices in Switzerland.

The average tariff rate of industrial products in Switzerland is about 1.8%. Some products such as textile tariff 5.6%, clothing tariff 4%, and other industrial products import duties and taxes are limited. Therefore, the Swiss Confederation Committee recommends that all import tariffs on industrial products cease from January 1, 2022.