Swiss ministers are currently in Washington for discussions aimed at reducing the United States’ 39% tariffs on exports from Switzerland, which are currently the highest in Europe. Swiss President Karin Keller Sutter’s earlier attempts to persuade President Donald Trump to reconsider the tariffs were reportedly unsuccessful. However, a recent visit by Swiss business leaders seems to have had a more positive impact.
A senior administration official described the ongoing talks between U.S. and Swiss ministers as “very positive” and highlighted their awareness of the trade deficit with the U.S. and their willingness to address it. The high tariff rate has significantly affected Swiss exports, prompting this renewed dialogue.
In a notable shift, Swiss industry leaders presented gifts, including a Rolex watch and a gold bar, to Trump during their meeting on November 4. Following these exchanges, the president indicated that discussions were underway to possibly reduce the tariffs but did not specify any figures. A statement from the Swiss industrialists mentioned that their initiative aimed to unite the private and public sectors of Switzerland.
The Swiss gift-giving is not unusual; leaders often bring gifts to the Oval Office. Previously, other leaders have provided unique items, emphasizing the practice as part of diplomatic engagements. While Rolex and the involved gold refining company, MKS, declined to confirm the specifics of the gifts, a White House official confirmed their receipt.
There are indications that the Swiss government may soon see relief, with discussions about potentially lowering the tariff to 15%, in line with those faced by Switzerland’s EU neighbors. In exchange, Swiss pharmaceutical companies have proposed expanding their operations in the U.S., while Swiss International Airlines may consider acquiring Boeing aircraft. However, the waiting period for potential adjustments remains critical, as some Swiss companies are expressing concerns about the ongoing impact of the tariffs.
Additionally, FIFA President Gianni Infantino’s relationship with Trump might provide another avenue for diplomatic influence, as discussions continue around the future of U.S.-Swiss trade relations.
Source: https://www.bbc.com/news/articles/ce8zkrplpdyo?at_medium=RSS&at_campaign=rss