Greer Praises Swiss Investments as US Weighs Tariff Decision
(Bloomberg) — Trade Representative Jamieson Greer offered praise for Switzerland’s stance in trade negotiations and its investments in the US, a positive sign for the European nation as it looks to secure a 15% tariff and avoid further confrontation with President Donald Trump.
“The Swiss are doing a lot of the things they need to do to get right with the US,” Greer said in a Bloomberg Television interview. “Negotiations are still ongoing, so I can’t guarantee anything. But there’s positive direction there.”
Trump stunned Switzerland in August last year when he slapped 39% tariffs on its goods. Three months later, Swiss officials secured a preliminary framework deal capping the duties at 15%, on par with other European Union nations.
The US agreed to slash the tariffs in return for access to duty-free import quotas for American meat, easing imports of some other agricultural goods and a $200 billion investment pledge from Swiss companies.
Greer cited recent progress in the US trade relationship with Switzerland.
“We’ve been very concerned with our trade deficit with Switzerland, but over the past six to seven months, the United States is now in surplus with Switzerland in goods. So that’s a really positive development.” Greer said in Colorado, where he was attending the Aspen Security Forum.
Earlier: Swiss See ‘Good Chance’ of a Lasting 15% Tariff Deal With US
Greer also touted Swiss investments in the US, including in Utah, where he is visiting a railway equipment manufacturer. He didn’t mention the firm’s name, but his itinerary on Friday includes a visit to a Stadler Rail site in Salt Lake City.
“The Swiss are investing here in America,” Greer said. “They’re coming here.”
In March, Washington opened an inquiry under Section 301 of the US Trade Act to determine whether Switzerland has any policies that discriminate against America.
Helene Budliger Artieda, director of Switzerland’s State Secretariat for Economic Affairs, wrote to US officials the following month to offer reassurance that her country doesn’t engage in “interventions that create or maintain artificially high production capacities, nor imposing a burden on US commerce.”
–With assistance from Ryan Chua.
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