The U.S. and Switzerland have reached a trade deal, U.S. Trade Representative Jamieson Greer told CNBC on Friday.

Duties will be reduced to 15%, the Swiss government said in a post on X, adding that further details will be announced at 4 p.m. local time.

As part of the deal, Swiss companies have pledged to invest some $200 billion in the U.S. by the end of 2028, which includes funding for education and training, according to a statement by the Swiss government.

"We've essentially reached a deal with Switzerland," Greer told CNBC's "Squawk Box" on Friday morning.

"They're going to send a lot of manufacturing here to the United States — pharmaceuticals, gold smelting, railway equipment — so we're really excited about that deal and what it means for American manufacturing."

Greer added

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