Tell us what you can about the Swiss deal, please.
Yeah, sure. So we've been negotiating with the Swiss for some time. As you know, the Swiss are in quite a unique position, I would say, for a country of their size population-wise. The size of their trade surplus with the United States is quite significant. And so we've really been wrestling over the past several months with the Swiss on how to eliminate this trade deficit.
Remember, that's the basis for the entire tariff program. And so working with the Swiss, what we've done is we've identified the areas and the reasons why we have a big deficit with them and goods. And it really boils down to things like pharmaceuticals, gold, right, trade and gold and a handful of other things.
And so the Swiss, as part of their agreement, you know, they said we are going to have $ 200 billion in investment, you know, during President Trump's term, you know, starting with about $70 billion investment next year, and it will be in these areas. So Roche, for example, sign of goodwill has already broken ground on a new facility, pharmaceutical facilities.
We have a handful of other Swiss pharmaceutical manufacturers who have made commitments. We have Stadler that does, you know, railway equipment. They've made a commitment. Some of these companies already have a US presence and they're expanding, or they're having new facilities. You know, Switzerland, you know, they actually buy a lot of Boeings.
They're going to buy some more, of course, but they often will take delivery of those Boeings in other countries. And so they're -- in some ways, they're not getting credit in their -- in their trade numbers for those Boeings. They'll take delivery and Switzerland is my guess. And with respect to gold, there's a lot of gold smelting that goes on in the -- in Switzerland.
And there's at least one Swiss company that has committed to put their gold smelting operation right here in the United States, which -- which makes sense for a lot of reasons. So we expect by the end of President Trump term for that trade deficit with Switzerland to be eliminated because of these kinds of moves.
And also, more importantly, there's just -- there's going to be a structural opening of Switzerland to the United States. Switzerland, on the industrial side, already has fairly low tariffs, but they've agreed to remove all industrial tariffs. They've agreed to give us market access for things like poultry, which is really challenging for the US and Europe.
And so it's actually quite an -- quite an important development that's what someone's willing to do that. And of course, they'll give us access on pork and beef and seafood and a variety of other products that we make. So it's an exciting opportunity. You know, we expect that the Swiss will have a tariff rate similar to what the EU has, a 15 percent rate all in. And again, with all of these things, you know, we're going to keep monitoring this.
If these companies don't deliver on their promises or their commitments or the trade deficits get out of hand, I mean we'll have -- we'll have to adjust it. But you know the Swiss have shown enormous good faith at this point in acknowledging the significance of the trade deficit and how to eliminate it.
Just for specificity, you say all in, so if an MFN rate would push something a bit, it would be 15?
That's right. The higher of 15 percent or MFN. That's right.
OK. And can I ask also about forthcoming reductions on food tariffs?
Sure.
Secretary Bessent talked about that. The NEC director has talked about that. What categories are we looking at and when can we expect those [inaudible]
Sure. So this is primarily, you know, food and agricultural products that we simply don't make in the United States. And on April 2nd, you know -- the president already on April 2nd had some items where he didn't impose tariffs. And then in early September, he put out a notice where he said as we proceed in negotiations and close framework agreements and trade deals, we're going to release tariffs on a lot of these things that aren't made.
And there's a full annex, right? So if you go back to September 5th, everyone can see this annex of stuff. So it's not -- it's no secret. And now, you know, with the deals from the summer with the EU and the UK, the president's successful swing through Asia, you know, where we closed some full agreements, have some additional frameworks, have the investment agreements finalized with Japan and Korea.
And now yesterday with the announcement of part of our Western Hemisphere strategy with four agreements with Latin American countries, and today with Switzerland. I mean, we've really reached that critical mass where we've started to reshape the global trade system in a way that we think is Better for America.
And so now is the right time to, you know, to release some of these items that the president said he was going to release. And I mean, when you look at Southeast Asia and South America, that's where we get a lot of this stuff. You know, the coffee, the cocoa, the bananas, those kinds of things. So it's a -- this is a natural outgrowth of exactly what the president signaled and that's what he's doing today.
Thanks, everybody. Thanks, everybody. I'm good. I got to --