President Donald Trump-led administration is planning to reduce the US’ tariffs on goods from Switzerland, Swiss Economy Minister Guy Parmelin announced on Friday.

During the meeting between US Trade Representative Jamieson Greer, it was decided that the US’s tariff rate on Swiss imports will fall to 15% from 39%, which is one of the highest levies the United States charges for any country’s goods. Most goods imported from Switzerland by the US includes wristwatches, unsmelted gold and medical equipment.

According to CNN, though gold had been excluded from the tariffs, wristwatches and medical equipment, as well as other Swiss exports, could get cheaper for Americans to buy.

Greer said: “They’re going to send a lot of manufacturing here to United States — pharmaceuticals, gold smelting,

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