Rolex and Gold Were for US and Not Trump, Swiss Trade Chief Says

(Bloomberg) — Gifts presented to President Donald Trump by Swiss executives were actually for the American people, according to Bern’s top trade diplomat.

In an interview on Wednesday at the Bloomberg New Economy Forum in New Delhi, Secretary of State and head of SECO Helene Budliger Artieda told Francine Lacqua that handing over a Rolex table clock and engraved gold bar at the White House wasn’t illegal.

“It’s a gift to the American people — it’s duly registered at the White House, and if all things go well it will end up in a presidential library,” she said. “It’s a private-sector initiative, but I feel confident that they have kept within the margins of the law.”

The items delivered in the Oval Office last November by a business delegation seeking relief from Trump’s onerous tariffs became a matter of national controversy in Switzerland.

Lawmakers filed criminal complaints seeking a probe for possible bribery, and a parliamentary report on the matter is expected in due course.

“I’ve been assured by these business leaders that they had their compliance look into it,” Budliger said. “The Swiss government didn’t gift anything. I think that’s the most important thing.”

The unusual appeal to Trump last year followed the imposition of 39% tariffs. Budliger was a key player behind the scenes to secure an accord that capped levies at 15%.

“The US has respected that deal,” Budliger said. “We want to have certainty, we want to have calmer waters.”

Talks are still ongoing to secure a more permanent legally binding agreement, she said.

“Sticking to being calm and cool-headed and seeing how we can make this relationship win-win has helped us to then get to a 15-all-in percent deal,” she said.

–With assistance from Bastian Benrath-Wright.

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