A US-Swiss trade deal is likely to contain assurances on a pharma levy.

According to people familiar with the matter, the draft of a trade agreement between the United States and Switzerland includes a provision granting the European country preferential treatment in ongoing national-security investigations in order to avoid tariffs on pharmaceutical exports.

The clause does not guarantee that Washington will refrain from imposing tariffs on the Swiss-considered vital industry, according to the people, who spoke on condition of anonymity. They claimed that the wording is intended to be interpreted as a pledge by both parties to cooperate in order to avoid such a move through the so-called Section 232 investigation. The people cautioned that details are still being finalized, and negotiations will continue until an announcement is made.