Lutnick Will Meet With Swiss Delegation, But Expects Little

(Bloomberg) — US Commerce Secretary Howard Lutnick said that he will meet with a visiting Swiss delegation bringing a “new proposal” to secure better tariff rates on their country’s exports but isn’t optimistic the two economies will reach a deal.

“I’m going to meet with the Swiss delegation — they’re coming in to make a new proposal, and the Trump administration is always willing to listen,” Lutnick said Friday in an interview on Bloomberg Television’s Surveillance.

“Let’s hear what they have to say. We’ll discuss it with the president. You know, I’m not optimistic, but I’m always willing to listen and Donald Trump is always willing to listen,” he added.

Swiss Vice President Guy Parmelin has traveled to the US just weeks after the failure of trade negotiations resulted in Switzerland being hit with the highest tariff rate for any advanced economy, with levies of 39% on the country’s exports to America.

Parmelin, who is also his country’s economy minister, will hold talks on a ministerial level, a spokesman had said, without providing details. His trip was first reported by AWP, which cited the organizers of an event where he canceled an appearance.

–With assistance from Craig Stirling and Josh Wingrove.

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