Swiss-US Tariff Talks Helmed by Parmelin, Keller-Sutter Says

(Bloomberg) — Swiss Economy Minister Guy Parmelin — and not President Karin Keller-Sutter — is in charge of the trade talks with the US, according to a finance ministry spokesman.

While Keller-Sutter said in New York on Wednesday that Parmelin is “handling the tariff negotiations,” her spokesman told Bloomberg that the area of international commerce has always been in the remit of the Swiss economy ministry.

Any previous action in the trade portfolio from Keller-Sutter was linked to her current role as president — which she holds in 2025 in addition to her permanent job as finance minister, he said.

There has been no change in responsibilities on who talks to the US on tariffs, the spokesman said.

The Swiss president, who is in New York to attend the United Nations General Assembly, addressed leaders there earlier on Wednesday.

Keller-Sutter also told reporters that she attended a reception hosted by US President Donald Trump in New York last night.

It was all very friendly and she shook his hand, but didn’t engage on the matter of tariffs, she said, describing the encounter as “a very short thing.”

Switzerland is reeling from a 39% tariff imposed on its US exports since August. Keller-Sutter failed to get Trump to agree to a trade deal, leaving the country with the highest levy of any developed nation.

The Swiss president has been blamed personally for the setback, especially as a call between the two leaders is seen to have derailed a potential agreement.

Her attempt to head off the trade duties with an August visit to Washington led to a snub from the White House. The only administration official prepared to meet her turned out to be Secretary of State Marco Rubio, whose portfolio doesn’t include trade.

Parmelin, who currently is Switzerland’s vice president, takes over the top job for a year in 2026. He already flew to the US capital this month, though a trade deal remains elusive.

In the meantime, exporters are feeling the pain from the new tariff rules: Foreign sales to America dropped more than 20% in the first month of the levies being in effect.

Citing the surcharges, the country’s KOF research institute on Wednesday slashed its forecast for Swiss growth next year.

(Updates with spokesman starting in first paragraph)

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