The two countries have a long history of cooperation, both bilaterally and within the World Trade Organization. The UNITED STATES is one of the best destinations for Swiss investment and the largest foreign investor in Switzerland. The United States and Switzerland signed an agreement creating a trade and investment forum to assess areas where both governments could enable greater trade and investment flows. In October 2019, the Neue Zürcher Zeitung reported that the Trump administration was considering imposing tariffs on medicines from Switzerland. The report immediately affected Roche and Novartis, whose stock fell 1 percent. The reason for these potential tariffs is not an agenda against Swiss pharmaceutical imports, but President Trump`s broad agenda to reduce the US trade deficit in the world. Participating countries: Egypt, Algeria, Israel, Jordan, Lebanon, Morocco, Syria, Tunisia, the West Bank and Gaza Strip, as well as the Faroe Islands. With effect from 1 January 2012, the following Western Balkan countries were also included in the Euro-Med cumulation area: Albania, Croatia, Macedonia and Serbia. Cumulation is not yet possible for trade with the EU, nor does it apply to agricultural products listed in Chapters 1 to 24. Pan-European cumulation: with materials originating in EFTA, the EU or Turkey.
Total cumulation: the appropriate processing must not be carried out in the customs territory of a single country, but may take place throughout the territorial territory of a free trade agreement. . . .