Breaking update from Swiss authorities: Washington has set a new tariff ceiling at 15% for Swiss imports, a sharp drop from the previous 39% additional rate. This adjustment marks a significant shift in trade relations between the two nations. The move could ease pressure on Swiss exporters and potentially stabilize cross-border capital flows. For markets watching policy developments, this represents a notable de-escalation in trade tensions. Worth noting how such macro shifts ripple through risk assets and investor sentiment globally.