Swiss Economics Minister Guy Parmelin announces that Switzerland has not yet engaged in formal tariff negotiations with the United States. Although recent discussions were held to understand U.S. concerns, Parmelin emphasised that additional factors beyond trade balance are crucial for Swiss investments in the U.S. market. The Swiss government remains apprehensive about the implications of U.S. customs policies on its economy.
State Secretary for Economic Affairs, Helene Budliger Artieda, has communicated potential topics for meaningful discussions with the U.S., as stated by Parmelin, adding that previous dialogues aim only to clarify issues rather than negotiate terms. Swiss President Karin Keller-Sutter, during her recent call with President Trump, highlighted the necessity for positive indicators for Swiss firms to boost or maintain their investments.
The introduction of 31% tariffs would unfairly impact Switzerland compared to other nations. The recent 90-day delay in punitive tariffs offers a breathing space for Swiss negotiations, which Parmelin welcomes, nonetheless stressing that the existing 10% tariff remains detrimental. He warns of the negative ripple effects of new tariffs on the global economy, affecting Switzerland profoundly, raising concerns among the Federal Council.
Parmelin addressed the unclarity stemming from U.S. tariff policies, stating that it disrupts the stability of the global economy and expresses the Federal Council’s worries regarding its impact on Swiss interests. The Minister refrained from commenting on Switzerland’s potential involvement in European Union sanctions, asserting that the Council’s priority is the welfare of the nation and its citizens.
Swiss Economics Minister Guy Parmelin states that Switzerland is not in formal tariff negotiations with the U.S. despite ongoing discussions. Key concerns include the impact of high tariffs on Swiss investments in the U.S. and the uncertain nature of U.S. customs policies, which could destabilise the global economy. There is hope for improved conditions following a temporary waiver of higher tariffs, yet current rates remain harmful.
Switzerland finds itself in a precarious position concerning U.S. tariffs. With no formal negotiations underway, the Swiss government must navigate a landscape of uncertainty, advocating for a balanced dialogue that considers critical economic factors. The existing tariffs pose risk, while the recent deferment provides a momentary reprieve. The implications of U.S. customs policies compel Switzerland to stay vigilant for the benefit of its economy.
Original Source: www.swissinfo.ch
