Swiss Firms Could Get Back Millions in US Tariffs, Parmelin Says

Swiss companies are potentially entitled to claim “several hundred million francs” in tariff refunds from the US because the trade deal between the nations will be applied retroactively, Switzerland’s economy minister said.

Guy Parmelin said the relief — which cut levies to 15% from 39% — made a “decisive” difference for local companies. He added that Swiss firms are entitled to much bigger refunds from the deal being backdated than their American counterparts. The preliminary deal was provisionally agreed Nov. 14, and the government said this month that it would take effect from that date.

The minister — who ...