GENEVA: The Swiss president says Switzerland is among 15 countries with which the United States plans to conduct “privileged” negotiations to help reach a deal in the wake of sweeping US tariffs on dozens of countries that have shaken global markets.
Karin Keller-Sutter, in an interview with broadcaster SRF published Friday, said she was “satisfied” with talks in Washington this week that included an International Monetary Fund conference and her one-on-one meeting with US Treasury Secretary Scott Bessent. Keller-Sutter also serves as Switzerland’s finance minister.
“The United States has defined a group of 15 countries with which it wants to find … a quick solution in this tariff question. Switzerland is part of this group of these 15 countries,” she told reporters separately late Thursday in Washington.
It was not immediately clear which 14 other countries were included, but she told SRF that “the US envisages conducting, I would say somewhat privileged, negotiations and finding solutions” with that group.
Before the Trump administration paused some of its most stringent tariff plans, products imported from Switzerland had been set to face tariffs of 31%, more than the 20% tariffs on goods from the European Union. Switzerland is not a member of the 27-country bloc.
According to figures published by the Swiss Embassy in Washington, the US has been Switzerland’s most important goods export market worldwide since 2021, while Switzerland is the fourth most important export market for US services. The bilateral trade volume in goods and services between Switzerland and the US reached a total of $185.9 billion in 2023, the embassy says on its website.
Keller-Sutter said a memorandum of understanding was to be drawn up after which negotiations can begin. A document would also lay out the most important topics, and “we have also been assigned a specific contact person. This is not easy in the US administration,” she was quoted as saying.
“The US authorities have clearly expressed their desire to find a solution with Switzerland,” Keller-Sutter told SRF. She said no timetable had been set, but the two sides agreed to move forward quickly “because uncertainty is poison for the economy.”
Trump’s sweeping “Liberation Day” tariffs on April 2 set off turmoil in world stock markets. A week later, Trump spoke by phone with Keller-Sutter in a conversation that her office said focused on tariffs. She emphasized the “important role of Swiss companies and investments” in the US
Hours later, Trump announced the U-turn that paused the steep new tariffs on about 60 countries for 90 days, fanning speculation, which was not confirmed, in some Swiss media that her chat with Trump might have played a role in the change of course.
On Thursday, Swiss Foreign Minister Ignazio Cassis, during a trip to Beijing, said the US tariffs have thrust the affected countries into “a sort of coalition” to try to reach a deal with the United States. And on Monday, Swiss pharmaceuticals giant Roche announced plans to invest $50 billion in the US over the next five years, an unspecified amount of which has already been under way.
