US Ambassador to Switzerland said, the government of the United States wants to reach a narrow sectoral trade agreement with the pharmaceutical industry of Switzerland. The main goal of this deal is to make it much more easy for the Food and Drug Administration (FDA) of the United States for approving the pharmaceuticals of the Switzerland.
The United States has imported 21 billion dollar worth of the pharmaceutical products from Switzerland 2021 and the development has come amid the stalled trade talks between Switzerland and the United States, which is continuing to disagree over the access of the market for the agricultural products of the United States into the alpine country.
The US Ambassador to Switzerland said, Switzerland has now decided that, they cannot give them the access to the agriculture market and until they get any further there and they are going to talk about some of the specific sectora agreements. The exports of the agricultural products from the United States to Switzerland had been 393 million dollars in the year 2019 and Switzerland has been the 16th largest partner for goods trading of the United States.
According to the United States Trade Representative, the two-way goods and services trade between Switzerland and the United States has been summed to 134 billion dollars in the year 2019.