The US and Switzerland have reached an agreement in a customs dispute. Do expensive gifts encourage you to give up? The Swiss government didn’t care: they celebrated the temporary end of the customs dispute as a success.
Swiss Economy Minister Guy Parmelin was relieved when he announced the deal in Bern. “Now it is clear. After intensive negotiations, Switzerland accepted tariffs of 15 percent, the so-called all-in, from the US.”
Instead of the current tariff of 39 percent – one of the highest rates in the world – the US government will now impose the same tariff on imports from Switzerland as it does on imports from the EU. “This puts our economy on par with competition from the European Union.”
Switzerland promises the US Billion investments
Federal aid was also on social media: “Thank you, President Trump, for your constructive engagement,” read an X-post from the Swiss government. The customs deal also involves commitments to Switzerland. Economy Minister Parmelin: “The Swiss economy is committed to investing 200 billion US dollars in the US over the next few years. This offer to the US is only possible thanks to a joint commitment between politics and business, in the spirit of Team Switzerland.”
Bloomberg news agency has reported on the impending agreement in recent days after Trump received a Swiss business delegation in Washington. According to media reports, the businessmen, including the heads of watch manufacturer Rolex and luxury goods group Richemont, brought valuable gifts – specially engraved gold bars and a Rolex table clock.
A generous guest at the White House
It’s possible that generous guests at the White House brought movement to the months-long negotiations, even if the Secretary of State in charge Helene Budliger-Artieda, when asked by a journalist, saw one federal virtue as essential to the breakthrough: “Hard-working, hard-working, hard-working.”
But so far, the customs deal reached, which US Trade Representative Jamieson Greer also confirmed, is a statement of intent. Patience is needed before implementation, they say in Bern.
“Breathe a sigh of relief, but not everything is fine yet”
It seems that there are still many details that need to be clarified. For example, regarding the agreement on duty-free imports of 1,500 tons of poultry meat from America to Switzerland. Question from a Swiss journalist: “1,500 tons – does that include chlorinated chicken?” This has not been agreed and chlorinated chicken is prohibited under Swiss law, replied Economy Minister Parmelin. However, it does not rule out the possibility that this matter will still be discussed.
Swiss business representatives reacted with relief, but without euphoria, to the new customs deal. Tariffs of 39 percent imposed by Trump in August have put a heavy burden on Switzerland’s export-oriented economy in recent months and “threaten the existence of certain companies,” according to a statement from the Economiesuisse association.
However, US tariffs of 15 percent are also a burden for export companies. “Breathe a sigh of relief, but not everything is clear yet,” said Swissmem, the mechanical, electrical and metals industry association, commenting on the agreement. “New tariffs may be introduced,” said Swissmem President Martin Hirzel. And the uncertainty in the market is huge.
