Swiss Minister Arrives in DC After Bern Signed Off on Draft Deal
(Bloomberg) — Top trade negotiators from Switzerland have arrived in Washington after their government signed off on the draft of a trade deal with the US, according to people familiar with the matter.
Swiss Economy Minister Guy Parmelin and State Secretary Helene Budliger Artieda touched down at Dulles International Airport last last night, publicly available flight tracking data show. The minister and his chief negotiator are aiming to complete a pact with the US that would lower the 39% tariff rate on Swiss goods.
The Swiss government signed off on a memorandum of understanding with the US prior to their departure, the people said, asking not to be identified discussing confidential information. The decision was taken at the executive’s meeting in Bern Wednesday morning, they added.
Parmelin and Budliger are scheduled to meet several US officials including Trade Representative Jamieson Greer, the Swiss Economy Ministry said, adding that a meeting with President Donald Trump isn’t on the agenda and it’s “rather unlikely” that talks will conclude on Thursday.
The White House didn’t immediately respond to a request for comment.
Switzerland is hoping to finalize an agreement that could lower the US duty on its goods, including watches and chocolate, to 15%, people familiar with the matter told Bloomberg earlier this week. That would represent a major victory for the government, which has sought to cut its rate — currently the highest the US has imposed on a developed nation.
Trump confirmed his administration was “working on a deal to get their tariffs a little bit lower.”
“I haven’t said any number,” he added when asked about a 15% rate. “But we’re going to be working on something to help Switzerland along. We hit Switzerland very hard. We want Switzerland to remain successful.”
Still, it’s unclear if a final agreement will be reached during the visit. Multiple countries have seen framework trade deals fall apart as they near completion, with Trump often demanding last-minute concessions.
Trump met earlier this month with a group of Swiss billionaires and corporate executives in the Oval Office and later signaled his intention on social media to continue trade talks. US and Swiss negotiators have also discussed the possibility of investments in the US gold-refining industry as part of efforts to persuade the Trump administration to lower the import tariffs for Swiss firms.
–With assistance from Catherine Lucey.
(Updates with minister’s arrival starting in first paragraph.)
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