UPDATE - Swiss government says US tariffs will be cut to 15%

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By Beyza Binnur Donmez

GENEVA (AA) - Switzerland announced on Friday that it had reached an agreement with the US to reduce US tariffs to 15% from 39%, following what it described as "constructive" discussions with Washington.

"Switzerland and the U.S. have successfully found a solution: U.S. tariffs will be reduced to 15%. Thanks to President (Donald) Trump for the constructive engagement," the government said in a post on US social media company X.

It added that a meeting with the office of the US trade representative, Jacques Greer, had also been "productive."

Bern said further details of the deal would be announced at 4 pm local time (1500GMT).

US Trade Representative Jamieson Greer said earlier that Washington has “essentially reached a deal with Switzerland,” describing the agreement as a major boost for American manufacturing.

Speaking in an interview with CNBC, Greer said he met with Swiss officials on Wednesday and spoke with the president earlier in the day. The deal, he said, will see Switzerland “send a lot of manufacturing here to the United States,” including pharmaceuticals, gold smelting, and railway equipment.

* Iclal Turan in Washington contributed to the story.