Swiss finance minister sees ‘clearly improved’ ties with US
G20 finance ministers and central bank governors attending the 2018 World Bank Group/IMF Spring Meetings in Washington on April 20, 2018
Keystone
Relations between Switzerland and the United States have improved under the Trump administration, Finance Minister Ueli Maurer told Swiss public radio, SRF, on Saturday.
Maurer, a member of the conservative right Swiss People’s Party, told SRF that “relations with the US have clearly improved” compared to the previous Barack Obama presidency, which was dogged by a long-running tax dispute and fines against Swiss banks.
Direct and improved contacts are possible between Switzerland and the US, which some people might be surprised about, he added: “The image we get of a rancorous [US] president, for example, does not correspond to reality. It’s quite remarkable and Switzerland benefits from it.”
The IMF predicts an ongoing recovery of the world economy, with global growth of 3.9% in 2018. It expects the Swiss economy to be “energized” by the global recovery and reduced status as a financial safe-haven. Swiss gross domestic product should reach 2.25% in 2018 before falling to 1.75% in the mid-termExternal link. The IMF, however, warns against greater protectionism, led by the US.
Maurer said Switzerland’s export-driven economy should be able to resist such pressures thanks to it being highly diversified. “We may be less affected than other states, even if such measures are effective,” he declared.
The Swiss minister sees other problems: “At the moment we are only talking about trade. But this protectionism also applies to services. And that almost worries me more, as we have no access to the European market.”
Switzerland participated in a meeting of G-20 finance minister and central bank governors ahead of the IMF and World Bank sessions. This is extremely important, Maurer added.
“I am trying to cultivate personal contacts, because it is always important for Switzerland as a small economy to have good contacts with the big ones,” he declared.
Related Stories
Popular Stories
More
International Geneva
A Geneva-based global health foundation came close to ‘collapse’. Where were regulators?
Swiss-EU treaties: signatures handed in for Kompass initiative
This content was published on
The committee behind the Compass Initiative submitted the signatures it had collected to the Federal Chancellery on Friday.
This content was published on
Esther Grether has died aged 89. Considered one of Switzerland’s leading entrepreneurs, the owner of the Basel-based Doetsch Grether Group was also a major shareholder in the Swatch Group and an art collector.
This content was published on
The flag of the Swiss Wrestling Federation has been received at the start of the Swiss Wrestling and Alpine Festival in Mollis, canton Glarus.
Figurine heads in Zurich school not considered discriminatory
This content was published on
The 16 carved figurine heads in the auditorium of the Hirschengraben school building in Zurich are not discriminatory, according to an independent expert report.
Swiss political parties report income of CHF22.4 million for 2024
This content was published on
Ten parties reported income totalling CHF22.4 million for 2024, less than in the 2023 election year. The reports are based on the regulations for transparency in political financing.
FIFA loses multi-million lawsuit against Blatter and Kattner
This content was published on
Former FIFA officials Joseph Blatter and Markus Kattner do not have to pay back their own bonuses or the bonus totalling CHF 23 million paid to another FIFA official to FIFA. This was decided by the Zurich Labour Court.
How cancer cells makes healthy cells work for them
This content was published on
Cancer cells manipulate neighbouring cells for their own purposes: a research team at ETH Zurich has discovered that they can reprogram neighbouring cells in such a way that they help the tumour to grow.
This content was published on
The ban on non-residents entering the swimming pool in Porrentruy, canton Jura, expires on Sunday and would be extended until the end of the season, the mayor said.
Natural disasters: most Swiss back forced resettlement
This content was published on
The authorities should be allowed to order forced relocations if there is a medium-term risk of a natural event, according to 58% of participants in a survey.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
US trade disputes indirectly threaten Swiss economy
This content was published on
The Swiss State Secretariat for Economic Affairs (SECO) noted in its spring forecastExternal link on Tuesday that positive developments in the domestic job and consumer markets and foreign trade give cause for optimism. In December, SECO had forecast economic growth of 2.3% in 2018 and 1.9% for 2019. But SECO added that external events could…
This content was published on
In a phone call on Wednesday, Schneider-Ammann congratulated Trump on his election victory and underlined the good partnership between Switzerland and the US. Trump expressed his “respect” for Swiss stability, strong economy and apprenticeship system. He was particularly interested in the migrant situation in Europe. The Swiss president referred to the two countries as “sister…
This content was published on
“The completion of the resolutions with the banks that participated in the Swiss Bank Program is a landmark achievement in the Department’s ongoing efforts to combat offshore tax evasion,” said Caroline D. Ciraolo, Principal Deputy Assistant Attorney General, in a statementExternal link released by the DoJ on Thursday. Between July and December 2016, four Swiss…
This content was published on
Swiss access to global markets will be a priority when President Schneider-Ammann has his first talk with US President-elect Trump.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.