What is happening with US-Switzerland tariffs now?

Reports say tariffs spiked to 39% after a tense call, then a tariff cut to 15% followed under a November customs deal tied to new US manufacturing commitments. Formal notices and agency guidance will determine how durable that 15% level is for traded medical inputs and equipment.

How do Roche Novartis US investments affect investors?

Roche Novartis US investments signal more US-based production, which can reduce shipping risk and tariff exposure. Near-shored plants may improve lead times and quality control, but add depreciation and start-up costs. Model margin effects from fewer cross-border touches and watch utilization ramp profiles through 2026 guidance.

Why does this matter to Canadian drug prices?

Tariff changes can alter landed costs for APIs and finished drugs that move through US hubs before reaching Canada. If US capacity grows, delivery windows may stabilize, helping tenders and hospital procurement. Currency moves still matter, so CAD-USD hedging and diversified sourcing remain important.

What indicators should I track next?

Watch USTR and customs notices, company CapEx updates, FDA approvals tied to US plants, and distributor surcharge policies. If the tariff cut to 15% holds, monitor how quickly US capacity ramps. If tariffs rise again, expect wider spreads in distribution and slower order patterns.

Law and Government

February 12: US-Switzerland Tariffs Cut Tied to Swiss Pharma CapEx

ByDanny Kontos February 12, 2026February 12, 2026

US-Switzerland tariffs are back in focus after reports of a spike to 39% followed by a tariff cut to 15% under a November customs deal tied to new US pharma capacity. For Canadian investors, the link to Roche Novartis US investments matters. It can reshape supply chains, price negotiations, and margins across North America. With debates about the trade deficit with Switzerland recurring in US politics, policy risk is not trivial. We break down what changed, what to watch, and how to position.