Swiss Trade Talks with US Collapse After Phone Call
(MENAFN) Swiss President Karin Keller-Sutter is encountering criticism following the breakdown of trade negotiations with Washington, which fell apart after a “disastrous” phone conversation with US President Donald Trump, according to a report by a news agency, citing insiders familiar with the situation.
On Friday, Trump imposed a 39% tariff – one of the highest worldwide – on Swiss imports, coinciding with Switzerland’s national day celebrations.
An article from the news agency on Sunday explained that Swiss negotiators were under the impression they had reached a preliminary agreement for a 10% tariff, mirroring the deal the UK secured.
In return, Bern committed nearly $150 billion in investments destined for the US and maintained ongoing communication with US Trade Representative Jamieson Greer.
This proposal received approval in early July, and Swiss officials believed it was merely awaiting Trump’s endorsement.
Keller-Sutter, who also holds the role of finance minister under Switzerland’s rotating presidency, had publicly claimed last month that she had attained rare “access to Trump.”
However, during a 30-minute call on Thursday — described by sources as “disastrous” — the American leader reportedly dismissed the deal, focusing instead on Switzerland’s $39 billion trade surplus.
One source told the news agency, “The call did not go well, in the sense that from the very first minute Trump made it clear 10% was not enough, and all he could focus on was Switzerland stealing money from the US. There was nothing Keller-Sutter could say.”
Trump allegedly questioned what additional concessions the “very wealthy” Alpine nation could provide.
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