Swiss Want a ‘Level Playing Field’ in Trade Deal With US

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Switzerland held what it said were “constructive” trade talks with US officials Friday while indicating that negotiations can’t be all about concessions to Donald Trump’s administration.  

After meeting in Geneva with Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, Swiss President Karin Keller-Sutter said her country might soon follow the UK  — which announced a deal this week — and finalize an agreement with the US on tariffs.

“We also want a level playing field,” Keller-Sutter told reporters Friday, responding to Trump’s view that it’s the US that is being treated unfairly in global trade. 

The comments come after Trump had threatened tariffs of 31% on Swiss exports to the US, citing a significant trade deficit in goods with the country. The deficit is offset if services are taken into account, which was one of Keller-Sutter’s main arguments when she headed into the negotiations.

The main focus in Geneva, which has long been seen as a diplomatic hub, is on talks between the US representatives and officials from China. Due to take place this weekend, the discussions between the world’s two largest economies are aimed at defusing a trade war that has seen Trump impose 145% levies on China and Beijing retaliate with 125% duties on many American goods.

Those talks are expected to focus on de-escalating tensions rather than negotiating any kind of deal. On Friday, no press briefings were planned by either delegation.

Earlier this week, the UK became the first country to strike a trade deal with the US, which Trump hailed as a “breakthrough” as he pushes to overhaul global trade to the benefit of the American economy. 

Switzerland and the US had agreed to hold talks when Keller-Sutter was in Washington last month. The US put Switzerland on a list of 15 priority countries. 

Keller-Sutter said on the sidelines of the press conference that the delegations didn’t discuss tariffs on pharmaceuticals, a key industry for Switzerland. Non-tariff measures to protect its agricultural sector were a subject in the talks, she said.

“I think the US is seeking solutions that are tailor-made for each country,” she added. “The conversation is not just about tariff barriers but also non-tariff barriers, taxes and subsidies.”

(Updates with comments talks, pharmaceutical exports throughout story)

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