Washington: Swiss biotech giant Roche announced on Tuesday its plans to invest $50 billion in the United States over the next five years, creating 12,000 jobs and providing for the development of the industry.

According to Namibia Press Agency, the investment will encompass the construction of modern research and development facilities as well as the expansion of existing manufacturing sites in Indiana, Pennsylvania, Massachusetts, and California. Roche mentioned in a statement that the locations for additional facilities will be disclosed soon.

The investment initiative is expected to generate more than 12,000 new jobs, with 1,000 positions directly at Roche and over 11,000 roles supporting new US manufacturing capabilities, as detailed in the company's statement.

This announcement comes in the wake of an executive order signed by US President Donald Trump on April 2, establishing reciprocal tariffs on imports from various countries. The base tariff rate was set at 10%, with higher rates applied to 57 countries, including Switzerland, based on the US trade deficit with each nation. A temporary pause on tariffs was later announced, except for China, affecting over 75 countries.

In a related development, Swiss President Karin Keller-Sutter discussed the tariff situation with Trump in a mid-April phone call, expressing optimism about finding solutions soon. She noted that Swiss businesses are keen to invest in the US economy.