Swiss firms invest US$27bil after tariff deal

FILE PHOTO: The company's logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland, November 28, 2019. REUTERS/Arnd Wiegmann/File Photo

ZURICH: Swiss companies invested US$27bil in the United States between January and April, as Switzerland moves to fulfil a pledge to sharply increase investment following a tariff agreement with Washington, NZZ am Sonntag reported.

Switzerland and the United States said on Nov 14 that Swiss companies would invest US$200bil over the next five years.

The investors include Novartis, which has announced two US projects, while Roche is expanding output in North Carolina and medical technology company Ypsomed is building a new factory in the state. — Reuters