Knife from Switzerland, ultimately made in China (7)
I believe the answer is:
machete
'knife' is the definition.
(machete is a kind of knife)
'switzerland ultimately made in china' is the wordplay.
'switzerland' becomes 'ch' (short for Confoederatio Helvetica, its Latin name).
'ultimately' says to take the final letters.
'in' means one lot of letters goes inside another.
'china' becomes 'mate' ('China plate' is rhyming slang for 'mate').
The last letter of 'made' is 'e'.
'ch'+'e'='che'
'che' placed inside 'mate' is 'MACHETE'.
'from' is the link.
(Other definitions for machete that I've seen before include "Broad heavy knife used in S America" , "Jungle blade" , "Broad heavy knife common in Central America" , "Heavy South American knife" , "Cheat me over broad heavy knife used in jungle" .)