The Swiss president says Switzerland is amongst 15 international locations with which the US plans to conduct “privileged” negotiations to assist attain a deal within the wake of sweeping U.S. tariffs on dozens of nations which have shaken international markets.
Karin Keller-Sutter, in an interview with broadcaster SRF revealed Friday, stated she was “satisfied” with talks in Washington this week that included an Worldwide Financial Fund convention and her one-on-one assembly with U.S. Treasury Secretary Scott Bessent. Keller-Sutter additionally serves as Switzerland’s finance minister.
“The United States has defined a group of 15 countries with which it wants to find … a quick solution in this tariff question. Switzerland is part of this group of these 15 countries,” she advised reporters individually late Thursday in Washington.
It was not instantly clear which 14 different international locations have been included, however she advised SRF that “the U.S. envisages conducting — I would say somewhat privileged — negotiations and finding solutions” with that group.
Earlier than the Trump administration paused a few of its most stringent tariff plans, merchandise imported from Switzerland had been set to face tariffs of 31% — greater than the 20% tariffs on items from the European Union. Switzerland shouldn’t be a member of the 27-country bloc.
In keeping with figures revealed by the Swiss Embassy in Washington, the U.S. has been Switzerland’s most necessary items export market worldwide since 2021, whereas Switzerland is the fourth most necessary export marketplace for U.S. companies. The bilateral commerce quantity in items and companies between Switzerland and the U.S. reached a complete of $185.9 billion in 2023, the embassy says on its web site.
Keller-Sutter stated a memorandum of understanding was to be drawn up after which negotiations can start. A doc would additionally lay out an important subjects, and “we have also been assigned a specific contact person. This is not easy in the U.S. administration,” she was quoted as saying.
“The U.S. authorities have clearly expressed their desire to find a solution with Switzerland,” Keller-Sutter advised SRF. She stated no timetable had been set, however the two sides agreed to maneuver ahead shortly “because uncertainty is poison for the economy.”
Trump’s sweeping “Liberation Day” tariffs on April 2 set off turmoil in world inventory markets. Every week later, Trump spoke by telephone with Keller-Sutter in a dialog that her workplace stated targeted on tariffs. She emphasised the “necessary function of Swiss firms and investments” within the U.S.
Hours later, Trump introduced the U-turn that paused the steep new tariffs on about 60 international locations for 90 days, fanning hypothesis — which was not confirmed — in some Swiss media that her chat with Trump may need performed a job within the change in fact.
On Thursday, Swiss International Minister Ignazio Cassis, throughout a visit to Beijing, stated the U.S. tariffs have thrust the affected international locations into “a sort of coalition” to attempt to attain a take care of the US. And on Monday, Swiss prescription drugs large Roche introduced plans to take a position $50 billion within the U.S. over the following 5 years — an unspecified quantity of which has already been underneath manner.
This story was initially featured on Fortune.com
