Swiss Parliament Elects Economy Chief Parmelin as President
(Bloomberg) — Switzerland’s parliament elected Economy Minister Guy Parmelin as the country’s president for 2026, succeeding Finance Minister Karin Keller-Sutter.
Parmelin will take up a role that is rotated among the seven members of the Federal Council. He was vice president this year, and will now assume the head of state position because it is his turn. Foreign Minister Ignazio Cassis, who will be his deputy, will then become president in 2027.
While the job is largely ceremonial, it gained attention this year as Keller-Sutter took a direct role in negotiating with the White House over tariffs. Just hours after a call she made to US President Donald Trump in April, he suspended much of his trade onslaught on the world.
Yet another conversation between the two in late July went awry, resulting in Switzerland getting the highest import levies of any industrialized country. In a subsequent dash to Washington — just before the tariffs were to take effect — she was snubbed by most administration officials and ended up only talking to Secretary of State Marco Rubio, whose portfolio doesn’t include trade.
Keller-Sutter then took a less prominent role in negotiations, throwing the spotlight on Parmelin. The 66-year-old economy minister’s remit includes trade and under his direction Switzerland was finally able to clinch an agreement with the US in mid-November. The Swiss government announced on Wednesday that the lower tariffs will be backdated to take effect on the day the deal was announced.
Parmelin hails from the French-speaking part of Switzerland and is the longest-serving member of the Federal Council. He already served as president in 2021. A member of the right-wing Swiss People’s Party, he’s a trained wine grower.
As president, Parmelin will deliver welcoming remarks at the World Economic Forum’s annual meeting in Davos in January — an event that will be attended by Trump for the first time since 2020, though he gave a virtual address at this year’s event just after his inauguration.
(Updates with tariffs in fifth paragraph)
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