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Switzerland is trying to persuade the US government not to impose tariffs on Swiss products. For this reason, the country’s economic affairs minister, Guy Parmelin, has emphasized Switzerland’s positive impact on the US economy.  Last week, a Swiss delegation visited Washington. This was after the US announced it was looking into countries for unfair trade practices. Switzerland also made it to this list. According to a Reuters report, Guy Parmelin said it’s not clear whether Switzerland will dodge U.S. reciprocal tariffs, which will be announced on April 2nd regardless of Swiss officials’ explanation of their position. Parmelin told Swiss Public Radio (SRF) on Saturday “We have signaled we are ready to discuss and to show we have benefits for the US.” He emphasized that Switzerland is the 6th largest foreign investor in the US. Moreover, companies in Switzerland have a workforce of around 400,000 US citizens. They are also offered high salary packages. He said, “We are a strong investor […] and we want to invest more.” However, it remains unclear if this was enough for the US to exempt Switzerland from its future tariffs. This is because Switzerland is not abolishing its own sales taxes. Parmelin said it’s difficult to convince Trump as he objects to other countries charging sales taxes from the US. Switzerland still awaits the April 2nd announcement. Parmelin said, “The high-level political discussions will come afterward.” Switzerland has limited options to retaliate against US tariffs The country has also previously shared concerns over Trump’s tariff. Last year, in November, a spokesman for the Swiss State Secretariat for Economic Affairs told Reuters that “Switzerland is concerned about Donald Trump’s announcement to impose additional tariffs on all goods imported into the U.S.” SECO spokesman said that the country strongly opposes US tariffs because such tariffs would violate…

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Filed under: News - @ March 23, 2025 1:13 pm