<p>-
- Swiss president flies to U.S. to win reprieve from Trump's tariffs</p>
<p>John RevillAugust 5, 2025 at 6:49 PM</p>
<p>By John Revill</p>
<p>ZURICH (Reuters) -Swiss President Karin Keller-Sutter and Business Minister Guy Parmelin flew to Washington on Tuesday, the government said, in a last-ditch effort to avoid the 39% tariffs announced by President Donald Trump on exports to the United States.</p>
<p>The U.S. tariffs, hiked from the initial 31% rate announced in April, have sent Switzerland reeling after they were announced on Friday.</p>
<p>The higher duty is due to take effect on Thursday.</p>
<p>During their visit, Keller-Sutter and Parmelin will "facilitate meetings with the US authorities at short notice and hold talks with a view to improving the tariff situation for Switzerland", the government said.</p>
<p>It did not comment on which parts of the U.S. government they would meet in Washington or whether a meeting was scheduled with Trump.</p>
<p>A person familiar with the Trump administration's thinking, said they were confident that a deal could be worked out with Switzerland if it responded quickly with a better offer.</p>
<p>"There was some kind of bad interaction, but that can blow over, if the Swiss come with a meaningful offer," the source said, referring to a phone call between Trump and Keller-Sutter on Thursday evening.</p>
<p>"It is a large trade deficit, especially in per capita terms," the source added.</p>
<p>Trump referred to the conversation with Keller-Sutter in an interview with CNBC on Tuesday, adding he was concerned about the U.S. trade deficit with Switzerland.</p>
<p>"Look, I did something with Switzerland the other day," he said referring to his phone call with Keller-Sutter. "The woman was nice, but she didn't want to listen, and they paid essentially no tariffs," he told the broadcaster.</p>
<p>"And I said, we have a $41 billion deficit with you, madam....and you want to pay 1% tariffs. I said, you're not going to pay 1%, we lose, because I view deficit as loss."</p>
<p>The Swiss government held an emergency meeting on Monday to decide its response to the tariff hike, and said it was ready to make a "more attractive offer" to the United States.</p>
<p>It was also ready to pursue negotiations beyond the August 7 deadline.</p>
<p>Bern gave no details of what extra incentives could be offered to secure a better deal, but it did say it was not considering any countermeasures against the U.S.</p>
<p>Parmelin has previously said that Switzerland buying more U.S liquefied natural gas (LNG) was under consideration, while further investment by Switzerland in the United States could also be an option.</p>
<p>The aim of Keller-Sutter and Parmelin's trip was to present "a more attractive offer to the United States in a bid to lower the level of reciprocal tariffs for Swiss exports, taking U.S. concerns into account," the government said on Tuesday.</p>
<p>Some Swiss business leaders, including Nick Hayek, CEO of watchmaker Swatch Group, had called on Keller-Sutter to visit Washington to do a deal with Trump directly.</p>
<p>A trade barrier of 39% would be a major blow for the export-orientated Swiss economy by reducing access to its biggest overseas market for its watches, machinery and chocolate, economists have warned.</p>
<p>Hans Gersbach, an economist at KOF Swiss Economic Institute at ETH, a University in Zurich, said the Swiss delegation would have to make a substantial offer to win a reprieve from the 39% tariff, with the visit representing a last-ditch effort to negotiate down the import duty.</p>
<p>"Something marginal won't be enough – it has to be a significant number, which Trump can present to his supporters as a victory for his negotiations," said Gersbach.</p>
<p>"It's crucial Keller-Sutter and Parmelin meet Trump and speak with him directly. He is the decision-maker," added Gersbach, who thought there was reasonable chance of success.</p>
<p>The Swiss government knew how serious the situation is, and was putting all its efforts into getting a deal, he said.</p>
<p>"A 39% tariff on Switzerland, especially with the EU agreeing a rate of 15%, would be an immediate shock to the Swiss economy," said Gersbach.</p>
<p>(Writing by John Revill, additional reporting by Madeline Chambers, Andrea Shalal and Bhargav Acharya, Editing by Miranda Murray and Giles Elgood)</p>
<a href="https://data852.click/5a32cd58501e613bf372/ee0a75caf0/?placementName=default" class="dirlink-1">Original Article on Source</a>
Source: "AOL AOL General News"
Source: AsherMag
Full Article on Source: Astro Blog
#LALifestyle #USCelebrities