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Geneva – To try to avoid heavy tariffs on Swiss goods after weeks of working with American authorities, Switzerland’s negotiators were assured that there was a deal but was done. Swiss businesses vowed to put tens of billions of investments in the United States in the coming years.
Nevertheless, President Donald Trump said that not for a particular deal. Now a scuffle is going on before Thursday, when the 39% tariff deadline applies to Swiss products announced last week.
Switzerland President Karin Keller-Saters and other top officials traveled to Washington on Tuesday to try to convince Trump that the measure was more than the high-trump administration and could cut profits for famous Swiss industries such as chocolate and watchmaking.
The new rate is 2 1/2 times higher than one over European Union goods exported to the US and is almost four times higher than British exports-Switzerland’s ability to compete with a 27-member block, questioning that it is a neighbor.
Under the US announcements from last Friday, the export duties levied on Swiss companies will now be crossed only on Laos, Myanmar and Syria firms, facing 40–41% rates.
The case of Switzerland is a lesson in do and dons to trade with Trump. It is thought that if a rich country with economic can be excellent in technology, pharmaceuticals and finance, then who can not refuse the US President to return the high tariff, who can?
Trump himself looks focused on a single, high number: Switzerland’s business surplus in goods with America
In an interview with CNBC on Tuesday, Trump recently said for a call with Keller-Sater, “The woman was good, but she did not want to hear” and she told her: “We have a $ 41 billion deficit with you, Madam.”
It was not immediately clear where the $ 41 billion figure came from. According to the US Census Bureau, the United States had a $ 38.3 billion trade imbalance on goods with Switzerland last year. This figure excludes the export of services.
Keller-Saters, who also serve as the Finance Minister of Switzerland, have faced criticism on the final-khai call with Trump in Swiss media, which has ended the US deadline on tariffs.
In early April, the rate of 39% on Swiss goods declared on Trump’s “liberation day” is more than 31% – before Swiss began a conversation with US authorities. The new figures surprised many Swiss business leaders.
“When you are working with someone as an unpredictable as Donald Trump, it is difficult to interact,” said Ivan Slatkin, head of the Federation of Romandy Enterprises, the head of the French speaking parts of Switzerland.
“We had a government that left the impression that the deal was done, it was only waiting for a signature from the President,” Slatckeen told the Associated Press over the phone. “We feel that we were punished, but we don’t know why.”
The United States is the second largest trading partner in Switzerland after the European Union, which surrounds Alpine country of over 9 million.
The Swiss government said that Tuesday’s visit meant “talk with US authorities on small information convenience and interaction with negotiations to improve the condition of tariffs for Switzerland.”
Swiss authorities have argued that American goods face almost zero tariffs in Switzerland, and the Swiss government says that Amir Alpine is the sixth largest foreign investor in the US and is a leading investor in research and development.
Switzerland’s powerful pharmaceutical industry – which promised billions of investments in the US in recent months, is exempted from tariffs – 39%.
But Slatcan said that the standing tariff level may be aimed at sending Big Pharma in Switzerland – Eptomized by Rosh and Novartis – a message that may also come under pressure.
According to a government statement, the Executive Branch of Switzerland, the Federal Council held an extraordinary meeting and said it is a day after holding an extraordinary meeting.
After consulting with Swiss businesses, the council stated that it has developed “new approaches for his discussion” with US authorities and was looking forward to continuous conversation.
The council said, “Switzerland enters this new phase, which is ready to introduce more attractive offers, takes us in mind concerns and demands to reduce the current tariff position.”
According to data published by the Swiss Embassy in Washington, the US has been the most important freight market in Switzerland since 2021, while Switzerland is the fourth most important export market for American services – not goods.
The embassy stated that the quantity of bilateral trade in goods and services between Switzerland and the US reached $ 185.9 billion in 2023, the embassy said on its website.
This article was generated from an automated news agency feed without amending the text.
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