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New York, NY--The tariff rates the U.S. charges on Swiss imports will fall to 15% from 39%, among the highest levies the United States charges for any country’s goods, according to various reports.

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.

“They’re going to send a lot of manufacturing here to United States — pharmaceuticals, gold smelting, railway equipment,” U.S. Trade Representative Jamieson Greer reportedly said in a CNBC interview on Friday, previewing details of the agreement.

Wristwatches, unsmelted gold and medical equipment are among the top goods the United States buys from Switzerland. While gold had been excluded from the tariffs, wristwatches and medical equipment, as well as other Swiss exports, could become less expensive for Americans to buy.

The United States ran a $38 billion trade deficit with Switzerland last year, according to US Commerce Department data. Greer reportedly said the agreement reached seeks to lower that.

Read the joint-government statement on the White House website.

Read more on the CNBC and CNN websites.

Trump Administration to Lower Tariffs to 15% on Swiss Goods