Chinese President Xi Jinping and Swiss President Guy Parmelin hailed an upgraded trade accord due to be signed in Beijing on Friday, expanding duty-free access to China to 99.8% of Swiss exports from just over half previously. Announced in August, the agreement gives Switzerland unusually broad access to the Chinese market as trade barriers rise in the United States and European Union. Swiss officials said it addresses imbalances in the initial accord without granting new tariff benefits to Chinese industrial goods. Parmelin said the agreement responds to companies’ expectations and expressed hope that the countries’ foreign affairs ministers could hold their next strategic dialogue later this year. Xi said the deal demonstrated political courage and responsibility in supporting open cooperation and could provide greater certainty for China-Europe trade and the global economy. The agreement follows months of 39% US tariffs, later reduced to 15% under a provisional agreement reached last November. Swiss exporters welcomed the greater stability, while officials said the accord would not turn Switzerland into a re-export hub or affect trade with the European Union, United States or other partners.