Less than two weeks ago, Switzerland was invited to enter “privileged” negotiations with the United States. This coalition of 15 nations— including all G7 countries except the U.S. —is aimed primarily at stopping those U.S. tariffs. These negotiations follow the realization of the economic burden of these tariffs on multiple nations — including this home of this blog, Switzerland. Swiss President Karin Keller-Sutter affirmed the creation on her visit to Washington last month. There, she bravely moderated conversations with U.S. officials.
Keller-Sutter, who is Switzerland’s finance minister, said there was still hope for a deal. She reiterated that U.S. authorities are interested in finding a solution with Switzerland. Her nation’s addition to this group is a step in the right direction. She stated, “The U.S. envisages conducting — I would say somewhat privileged — negotiations and finding solutions.”
In her conversations with U.S. President Donald Trump, Keller-Sutter emphasized the pressing need to come to an agreement. She repeated her mantra that “uncertainty is poison for the economy.” Countries hit hard by U.S. tariffs are rightfully worried. They were concerned that their products could be subject to tariffs up to 31%. The U.S. has suspended the application of these harmful, punitive new tariffs on roughly 60 nations of the world. This 90-day pause looks to be a direct result of Keller-Sutter’s conversations with Trump.
Swiss Foreign Minister Ignazio Cassis noted that the tariffs have had the unintended effect of uniting the countries impacted. They are now creating “a kind of coalition” to demand a group solution with the United States. This cooperation through the years reinforces the strength of their bilateral trade relations and the economic interests shared among these countries.
In 2023, Switzerland’s bilateral trade volume in goods and services with the United States reached an all-time high of $185.9 billion. This impressive number further highlights the important role that Swiss companies and investments play on the American economy. Keller-Sutter’s office reiterated this point, emphasizing the “important role of Swiss companies and investments.”
In Washington, talk centered around a proposed face-to-face with U.S. Treasury Secretary Scott Bessent at an International Monetary Fund conference. Both parties understood the very clear imperative that negotiations be brisk in order to lessen economic uncertainty.
Keller-Sutter’s proactive approach and open communication with U.S. officials may have been pivotal in advancing these negotiations and pausing further tariffs. First, Swiss pharmaceuticals giant Roche released news of a truly massive $50 billion investment in the U.S. They intend to deepen this commitment over the next five years, cementing Switzerland’s economic ties with America even more.
Going into negotiations, both countries will be at the table together. They want to achieve the strongest possible outcome, one that helps their economies grow.
