The U.S. Has Lowered Switzerland’s Tariffs to 15 Percent

Swiss watchmakers can now breathe a little easier.

In a relief to the nation’s timepiece producers, as well as other industries, will now only face a 15 percent tariff from the U.S. That marks a major step down from the President Trump placed on Swiss goods earlier this year. The European country announced that it came to the agreement with the U.S. on Friday, The New York Times .

The accord follows a meeting between American and Swiss officials on Thursday, as well as Swiss executives’ Oval Office drop-in with Trump last week. The group included those in charge of Rolex and Richemont, according to the publication. Officials from the Land of Milk and Honey have been attempting to get the tariff, devastating to the Swiss economy, lowered since it was first announced. Now, though, the 15