Swiss reel hits horror scene after US tariff blow
Karin Keller‑Sutter Returns Home Empty‑Handed After a Failed U.S. Mission
Swiss President Karin Keller‑Sutter and Economy Minister Guy Parmelin rushed to Washington on Thursday with a slim delegation to negotiate a lower tariff after President Donald Trump announced a 39‑percent duty on Swiss imports.
Trip to Washington Fails to Stop a 39‑Percent Duty
- Trump’s 39‑percent tariff is higher than the previously threatened 31‑percent rate.
- At the U.S. capital, Keller‑Sutter secured only a meeting with Secretary of State Marco Rubio, who does not oversee tariff policy.
- Following Wednesday’s meeting, Keller‑Sutter spoke only of “a very friendly and open exchange on common issues.”
- Swiss officials announced that an extraordinary meeting would be held, and a statement would be issued.
Swiss Businesses Call the Scenario “Horror”
Swiss industry associations fear that competitors in the European Union, Japan, and Britain will gain an advantage, as those economies negotiated tariffs of 15 percent (EU), 15 percent (Japan), and 10 percent (Britain).
- Swissmem, the mechanical and electrical engineering industry association, stated that the “horrendous tariff burden” would mean the de facto death of Swiss tech exports to the U.S.
- The association urged the government to continue negotiations, even if the chances of success appear small.
Tariff Impact on Swiss Export Sectors
The new tariff threatens whole sectors of Switzerland’s export‑heavy economy, including:
- Watchmaking
- Industrial machinery
- Chocolate and cheese
According to customs data, nearly 19 percent of Swiss goods went to the U.S. last year.
Trump Justifies the Action by Swiss Trade Surplus
Trump cited the fact that Switzerland has a trade surplus of tens of billions of dollars with the United States. The Swiss pharmaceutical industry, a major exporter, is exempt so far, but Trump announced plans to hit the global sector with a separate tariff. Swiss officials argued that the United States enjoys a significant services trade surplus, which balances the relationship, and that Swiss firms are among the top investors in the country. They also noted that most American industrial goods enter Switzerland tariff‑free.
