Details of a trade agreement between Switzerland and the US aimed at reducing the high 39% tariffs on Swiss products may emerge today. However, it is stated that signing the agreement could take months. The statement came from Richemont Chairman Johann Rupert, who met with President Donald Trump at the White House last week.
Rupert said that the tariffs stemmed from a “misunderstanding” between Washington and Bern and would be resolved quickly.
“Swiss people and Americans are very similar—people who don’t like independent, large governments. I believe this misunderstanding will be resolved this week,” he said.
Target Tariff Rate: 15%
Swiss Economy Minister
Guy Parmelin returned to the country on Thursday after meetings with U.S. Trade Representative
Jamieson Greer in Washington and stated, “We have clarified almost everything.” Parmelin refrained from giving details, saying that a new update would be provided when all points are “completely clear.”
A Swiss source stated that a “de facto agreement” had been reached as a result of the talks, adding that the country’s goal was to reduce tariffs to “15%.” A senior US official also said the meeting was “very positive” and that a tariff reduction was possible if Trump accepted the terms.
Some Swiss businesspeople are acting cautiously. Gruyere manufacturer Anthony Margot said, “We’ll believe it when we believe we’ll see it. It’s too early.” Nevertheless, he described the start of talks as a “great development.”
Rupert, along with executives from MSC, Rolex, Partners Group, Mercuria, and MKS, raised the issue of tariff impacts during his meeting with Trump last week. According to Swiss media, the meeting contributed to a softening of relations between the two countries.
Rupert emphasized that a final agreement could take months, saying, “This depends on President Trump, who is very busy. The situation in Switzerland is just one of many issues he has to address.”
Rupert stressed that a final agreement could take months, adding, “This depends on President Trump, who is very busy. The situation in Switzerland is just one of many issues he has to address.”
Rupert emphasized that a final agreement could take months, adding, “This depends on President Trump, who is very busy. The situation in Switzerland is just one of many issues he has to address.”
Rupert said, “Rupert stressed that a final agreement could take months. This depends on President Trump, who is very busy. The situation in Switzerland is just one of many issues he has to address.”
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