Swiss Business Leaders Urge Trump to Reconsider 39% Tariffs

Swiss business leaders recently met with US President Donald Trump to address the significant impact of steep tariffs on their operations. The meeting, which took place as part of a private initiative, aimed to highlight the consequences of the 39-percent duties imposed on imports from Switzerland, introduced in August 2023. This decision marked one of the most severe tariffs in Trump’s broader international trade strategy.

During the meeting, Trump acknowledged the discussions on his platform, Truth Social, stating he had engaged with “high level Representatives of Switzerland” on “many subjects including, and most importantly, Trade and Trade Imbalance.” He indicated that the conversation would continue, as Jamieson Greer, the US Trade Representative, is set to follow up with Swiss leaders.

The Federal Council, Switzerland’s government, confirmed the meeting but did not disclose the identities of the business leaders involved. It emphasized that while the Swiss State Secretariat for Economic Affairs (SECO) facilitated the meeting, it was independent of the Federal Council’s direct involvement. The government underscored that negotiation responsibilities rest with the Federal Council, which is actively seeking to improve trade relations with the United States.

The imposition of these tariffs has compelled Switzerland to revise its economic forecasts, leading to a cut in its growth projection for 2026. The country, known for its export-driven economy, is striving to mitigate the adverse effects of these tariffs which have drawn significant concern from its business community. Guy Parmelin, the Swiss Economy Minister, is maintaining regular communication with US authorities, including Greer, in a bid to navigate these challenging trade dynamics.

Switzerland’s government remains committed to addressing the customs situation with the United States. In a statement, it noted the importance of the private initiative by business leaders, recognizing their efforts to engage directly with the US administration. The ongoing discussions reflect the urgency of the matter as Swiss companies seek to safeguard their interests in a challenging international trade environment.