“No US tariff negotiations”: Swiss economics minister

Parmelin: "There are still no negotiations with the USA on tariffs" Keystone-SDA

Switzerland has yet to enter formal tariff negotiations with the United States despite making contact with the administration, says Swiss economics minister Guy Parmelin.

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So far Switzerland has held “discussions to better understand the problems of the US”, Parmelin told the media in Bern on Thursday.

+ Read how Switzerland is positioning itself during the tariff shock

Switzerland is in the process of explaining to the US that other aspects were important in addition to the balance of trade and that higher tariffs would hinder the willingness of Swiss companies to invest in the US.

The Federal Council remains concerned about the US government’s customs policy.

State Secretary for Economic Affairs Helene Budliger Artieda had shown the US side “possible topics for substantive discussions” in recent days, said Parmelin. “Nothing more and nothing less.”

During her telephone conversation with US President Donald Trump, Swiss President Karin Keller-Sutter emphasised that Swiss companies needed positive signals in order to continue or even increase their investments in the US market, said Parmelin.

With the announced 31% tariffs, Switzerland would be discriminated against compared to other countries.

The postponement of the punitive tariffs by 90 days announced by Trump on Wednesday gives Switzerland “some room for manoeuvre”, Parmelin added. “The Federal Council welcomes the temporary waiver of even higher tariffs.”

However, the current tariff rate of 10% is also harmful to the economy, both globally and in Switzerland. “All new tariffs have negative effects.”

The big problem with the new US policy is the uncertainty it creates, said Parmelin. “This policy destabilises the global economy.” And it goes without saying that Switzerland is also affected. “This worries the Federal Council.”

Parmelin left open the question of whether Switzerland wanted to join European Union sanctions. “The Federal Council is working for the general interest of the population and the country,” he said.

Translated from German with DeepL/mga

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