Switzerland’s economics minister, Guy Parmelin, confirmed that the nation has not commenced formal tariff negotiations with the United States despite attempts to engage with the US administration. He explained that these discussions were aimed at grasping US concerns rather than initiating negotiations.
Parmelin highlighted that the Swiss government is keen to clarify that factors beyond mere trade balance are vital and that imposing higher tariffs could deter Swiss firms from investing in the US. The Federal Council remains wary of the US’s customs policy as it could provoke adverse economic impacts.
State Secretary for Economic Affairs, Helene Budliger Artieda, has proposed various issues for detailed discussion with the US. Parmelin also mentioned that during a call with US President Trump, Swiss President Karin Keller-Sutter conveyed the need for positive signals to encourage Swiss investments in the US market.
The recently proposed 31% tariffs could lead to discrimination against Switzerland compared to other nations. Nevertheless, the temporary 90-day postponement of punitive tariffs affords Switzerland some breathing space. Despite this, Parmelin cautioned that the current 10% tariff still poses economic threats.
He expressed concern about the uncertainty the new US policies introduce, asserting that it destabilises global commerce and inevitably affects Switzerland. The question of whether Switzerland would join EU sanctions remains open, as the Federal Council strives to act in the nation’s best interest.
Swiss Minister Guy Parmelin announced that Switzerland is not in formal tariff negotiations with the US, aiming instead to understand US concerns. The Swiss government fears that higher tariffs could negatively impact investments and the global economy. The proposed tariffs raise worries about discrimination against Switzerland, although a temporary waiver provides some relief.
In summary, Switzerland has yet to enter tariff negotiations with the US, focusing instead on understanding American concerns. The government is worried about the ramifications of higher tariffs on investment and global economic stability. The currently proposed tariffs present challenges, but the temporary reprieve offers a sliver of hope for continued dialogue and potential resolutions.
Original Source: www.swissinfo.ch
